|Fed handouts destroying America’s full faith and credit|
Conservative Republican House members claim raising the debt ceiling by a trillion to 18 trillion, 600 billion annual deficits and having the Fed pump 85 billion phantom bucks monthly into the market, are sure ways of destroying America’s full faith and credit.
But on top of all of this is another huge expense getting enacted this month that will add trillions of additional expense to America in the form of Obamacare.
Americans, who have a basic concept of economics, a knowledge of history and how debt has destroyed mighty nations in the past, see the reckless spending in Washington as immoral and irresponsible. They don’t want to see their children become indentured servants to debt incurred today in order to fund America’s present lifestyles.
Current debt is getting close to Italian levels in ratio. Italy is an economic basket case, run into the ground by left wing socialist policies and unchecked union power ….Italy, formerly the seat of the Roman Empire, used to be the greatest nation on earth 2,000 years ago and thought it would last forever, until the advent of “bread and circuses.” There are many other examples of great nations collapsing, or even wars starting due to out of control debt.
Conservative Republican House members have been holding the line when it comes to checking the out of control spending in Washington. They want some accountability and some responsibility.
In spite of intense pressure from the White House, its allies in the media and big government politicians of both parties…these House members will demand some economic concessions from the Obama administration, before they give up their leverage.
It’s a sad note to see that our leadership has devolved to the point that just one segment of the three branches of government, has any sense of responsibility when it comes to holding the line against irresponsible spending.