Friday, August 31, 2012

Bright Side of Obama's Reign

Since Obama is ruling by decree, we can dispense with the Congress.  We should send that miserable body's 535 sorry ass members back home, stop paying them, and get rid of all those expensive staff members.

Some will object that Congress is required to appropriate funds to enable the government to operate but that's a bogus claim.  Congress hasn't passed a budget since Obama took office. Instead, they just pass continuing resolutions, which keeps spending and spending increases on autopilot.  Therefore, it can and should be assumed that this will go on in perpetuity . . . or at least until the country plunges off the inevitable fiscal cliff.

That will occur if and when the Fed becomes unable, or ceases to keep interest rates artificially low.  At that point just paying the interest on the already incurred debt will require more than the government takes in, and it will be without funds to operate or to meet any of its other obligations (things like Social Security benefits, Medicare, etc.).

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