CLANK, CLANK, CLANK…..
Please make sure your lap bar and seat belts are securely fastened and please keep your hands inside the car for the entire ride…..
CLANK, CLANK, CLANK…..
That is the sound of the roller coaster that we are now on. DO NOT worry about the budget deficit or any of the “money” that the USA currently owes, President Obama and friends are going to make it so SMALL that we will have no trouble paying it off.
I know, I know, all you hear about is how large the National Debt is getting. I mean, $1 TRILLION dollars SOUNDS like a lot of “money”. But, is it really?? In 1960, $1 million dollars was a lot of money. Heck, in 1990 $1 million dollars was still large. In 2000, I would argue that billion became the new million. Even Forbes listing of the richest people no longer includes multi-millionaires. Soon, trillion will be the new million.
With spending (National Health Care, Energy Cap and Trade, Stimulus I, Stimulus II, etc.) that President Obama, the Democratic Congress and the Democratic Senate are trying to FORCE upon the American public, the deficit is getting out of control. Bernanke says that He can remove the excess “money”, that He has been printing 24/7 as fast as the printers will run for the past 8 months, from the system AS SOON AS it is needed in order to ELIMINATE the threat of INFLATION. For the moment, let’s assume that He CAN do this. Does He believe that EVERY central banker in the world CAN do the same thing. At this point almost every country in the world is flooding the system with currency. (at least $800 BILLION from the USA, at least $500 BILLION from China, at least $70 BILLION from England, at least $370 BILLION from the European Union, at least $80 BILLION from Russia, at least $154 BILLION from Japan, at least $47 BILLION from Canada, etc.).
In my opinion, we are heading for a dose of inflation, that may even turn into HYPERINFLATION. This is the type of inflation that means you add a ZERO to anything that deals with money, basically overnight. That $3 gallon of milk now costs $30, that $40 dollar tank of gas now costs$400, that $6 lunch at McD’s now costs $60….you get the picture. When this happens, our National Debt will NOT go up as fast. See how SMALL it is getting?
Do not worry about what will happen to you when your wages/salary do not increase as fast as inflation, the government will take care of you.
Remember when President Obama lied said that He would NOT raise taxes for anyone making less than $250,000. He is almost correct. First, he is going to raise taxes, and then…….wait for it………..you will be making MORE than $250,000. How is that going to happen? Remember when I said you add a ZERO to anything that deals with money? If you are making $25,000/year now, soon that will be the same as making $250,000/year. See how SMALL the National Debt is getting?
Here is the best part. Right now, the top 10% of earners pay 71% of the federal income tax collected, and 32% do not pay ANY federal income tax. After we add a zero to everyone’s pay, the bottom 32% will START to pay taxes (FINALLY), because the tax code is NOT adjusted for inflation. See how SMALL the National Debt is getting?
But, do NOT worry what is going to happen to you during the transition. It might get a little bumpy for YOU personally, but the National Debt is getting so SMALL!!!
President Obama and friends are GENIUSES!!!
CLANK, CLANK, CLANK…..enjoy the ride!!!!