Its Congress' Fault. They are the ones who control the purse strings and can OK a deficit. The president can whine and cry and bitch all he wants, but congress wears the financial pants in the family.
Who just OK'd a new deficit ceiling increase of $1.8 trillion?
http://www.reuters.com/article/idUSTRE5BN1B120091224
Obama Just spends all the money as fast as Congress can Ok it and the Treasury can print up some Paper Promises to give to the fed for different paper promises called Dollars. And we will pay interest on it to boot. for 30 year bonds we are paying 4.4% interest http://www.treasurydirect.gov/RT/RTGateway?page=institMktbles
Anyone know what the total pay off on 30 years of 4.4% on 1,800,000,000 is? Lets just say its more than double the original sum. Money you and I will have to pay in the form of taxes.
Who just OK'd a new deficit ceiling increase of $1.8 trillion?
http://www.reuters.com/article/idUSTRE5BN1B120091224
Obama Just spends all the money as fast as Congress can Ok it and the Treasury can print up some Paper Promises to give to the fed for different paper promises called Dollars. And we will pay interest on it to boot. for 30 year bonds we are paying 4.4% interest http://www.treasurydirect.gov/RT/RTGateway?page=institMktbles
Anyone know what the total pay off on 30 years of 4.4% on 1,800,000,000 is? Lets just say its more than double the original sum. Money you and I will have to pay in the form of taxes.