They'll get their bill passed. Do you doubt it? Well, I only have time for bullet points this morning.
- No current CONgress can bind the actions (spending) of a future CONgress. So the PROMISES to cut X dollars over Y time is really just equal to BS.
- This is more of the same “Reductions to the rate of increased spending = Spending Cuts” nonsense.
- This bill creates a concentration of power in the form of a “Super Committee” that effectually shuts out the remainder of CONgress, and in so doing greases the skids for future spending increases. All this Kabuki Theatre-style debate slows things down – there’s MONEY to spend By God!
- The Tea Party, let’s face it, has utterly failed. The moment these freshmen CONgressmen and women hit the poison air inside the beltway, they’re instantly transformed into Gollum – no exceptions
- 80% of US T-Bills sold since 2009 have been purchased by … THE FED (with freshly printed fiat currency)
- The Chinese have asked us TWICE in about the last 30 days to stop devaluing our currency (and their assets)
- And when the crash comes, never you fear, because there’s a plan in place whereby the Imperial FEDGov will still be able to operate right on in the face of the “Emergency”: NSPD-51 (Thanks George W. Bush!)
The only question that remains is what are we going to do about it? More of the same?