How to avoid a debt doomsday
This in response to a post on the CNN money (see link above)
To whom it may concern, below, you know who you are!
To assume that if nothing in the budget is increased the budget will be balanced in six years, ( I picked a bad year to stop smoking that thing you are smoking) if not some one is blowing smoke up your kilt. There are a thousand assumptions here, and you and I both know that stuff about assuming.
First of all it assumes that a recovery is in place and we have no evidence of that ( some say that the recession is over but the Right denies that , right?
Then it assumes that the rich will create jobs to feed the hungry, that is also not true, besides all the other arguments I have made in my blog the consumption and the consumer demand both are on the wane, thus no jobs, and fewer taxes that will cause more and more state and local employees will be laid off, thus reducing the demand further.
No recovery in housing and housing prices, as more and more foreclosures hit the market the glut won't be worked off in a slow recovery economy and and the revenues will not rise fast enough.
With the monies already printed and spent, the FED can not keep the interest rates low forever, no matter the lies they have been telling, please my dear look at the commodity prices!
Even if the interest rates were to go up by only two or three points, the whole tax income will be needed to service the debt obligations with nothing left at all to do anything else, thus as predicted making the US just another third world country! Back in the day we had shroom tea, the lady from Alaska must have some potent shi**
LIFE IS A GAME OF CONNECT THE DOTS, IF YOU DON'T CONNECT ALL THE DOTS OR DON'T CONNECT THEM IN THE RIGHT ORDER YOU NEVER GET THE PICTURE