Going From Bad to Worse to Bankrupt
From a Small Government Shutdown to a Big Republican Letdown
By Scott Rohter, October 2013
In case you haven’t heard… Congress has raised the Federal Debt Ceiling again… and again and again, and the Grim Reaper in the White House just keeps signing his name to it. Barack Hussein Obama. He just keeps affixing his signature to the deficit enabling legislation. This allows His Royal Highneyass to keep spending money like a drunken sailor. The Federal government is spending money like it is going out of style, and it actually is going out of style at the rate they are spending it. Soon they will have to start using something else besides Federal Reserve Notes because no one is going to accept them anymore… You can’t keep monetizing the debt and creating fiat money out of thin air and you cant reduce interest rates any lower than zero. Sooner or later if they don’t stop doing it, the other nations of the world will put an end to it by dropping the US dollar as the world’s reserve currency.
The latest increase in the Federal Debt Ceiling loads Americans up with another trillion dollars’ worth of crushing Federal debt. This load is even getting too heavy for all of the levitations and prestidigitations of the Federal Reserve Board. They are about the only ones left who are still willing to carry it. The increase in the Debt Ceiling was passed by the Senate on Tuesday October 16th and by the House of Representatives the very next day. It raised the Federal Debt from 17 trillion dollars to 18 trillion dollars by the year 2016.
Our country has gone from bad to worse to almost bankrupt. Soon we will have to publically admit we are bankrupt. The world’s largest economy cannot keep paying its bills with borrowed money, but even worse than that is the fact that our political leaders are morally insolvent. They aren’t bordering on bankruptcy. They are actually morally and ethically bankrupt. The Republican Party is just as bad as Democrat Party and the leaders of both Parties are clueless as well as spineless.