No-Brainer? Indeed!

Timothy Geithner, our stalwart Treasury Secretary, just said it best. Increasing the debt ceiling for the 75th time in the past 50 years and the resulting necessity to print more money out of thin air are "No-Brainers"! Indeed! Could not have said it better myself. Only someone with No Brain could think they're either necessary or good ideas.

Fewer and fewer countries want to buy our debt any more. I wonder why? Do you suppose they don't like the fact that we've exceeded the limit on our credit card more times in the past ten years than we can count? Do you suppose they don't like the fact that we've been printing money out of thin air, thus devaluing all the Treasury Bonds we've given them in return for what we've borrowed from them? Maybe, just maybe they don't like the prospect of being paid back in dollars that are worth half as much? Maybe they really have no interest in loaning us any more money! What do we do then? When it's cheaper to use dollar bills than toilet paper?

Think about it. Say they lend us $100. We give them a $100 IOU and will end up paying them back in dollars that'll buy only $50 dollars worth of something. Who wouldn't want to do business with us on those terms?

It's bad news for you too, American saver. For every $100 you've plowed into savings, IRA's and 401K's you'll get back $100 that will only buy half as much stuff as the $100 you put into savings. Save $200,000 for retirement and when you get it back it'll only buy half as much stuff as you planned for retirement. Your standard of living will have decreased to half of what you planned.

That's what all this insane federal spending and debt is doing to your future. Should you care about what our government has been doing in that regard over the past ten years? Only if you care that we'll all have to drive trucks because we'll need them to haul all the money we'll need to buy a tank of gas. Only if you care about necessities becoming unaffordable. Only if you care about living in poverty when you retire. Only if you care about our so-called representatives stealing our future to satisfy their spending habits because they're more concerned about their reelection than our economy being flushed down the toilet. All this unaffordable welfare may seem all "PC" and "necessary" now but we will all pay a heavy price in just a few years. Then, we'll realize too late what fools we were to allow those yahoos in congress to get away with this nonsense.