U.S. GOVERNMENT DEBT IS THE BIGGEST PONZI SCHEME IN HISTORY
OCTOBER 11, 2013
First, let me just say up front that anyone who is worried that the U.S. will default on its Treasury obligations because of this grand Vegas stage-show going in DC is a complete idiot. To begin with, I fully expect Boehner to cave in and come to an agreement that at least temporarily lifts the debt ceiling so that Jack Lew and Obama can continue spending our money at a far greater rate than the incoming revenues. Second, for all you folks with your head in the sand about what has happened to our Constitution over the last 13 years, the Patriot Act/Homeland Security Acts give Obama the authority to unilaterally print the money needed to service the Government’s Treasury Ponzi scheme in case the stage actors don’t blink by October 17th – Jack “Yes I’m A Thief” Lew’s drop-dead date for cash in the Treasuries drawer.
Ultimately the debt ceiling will be raised by at least $1 trillion and Government spending will not be reduced. But rest assured that the massive graft and kick-back payments that flow freely all around Capitol Hill will continue unabated.