It's Hard To Know What To Do
by James Glaser
December 22, 2008

People who have read anything about what has been going on with our government these last eight years, know we have really dug ourselves a hole with spending. The Fed is printing money night and day, and has been for a long time. I am not an economist, but I do still handle my own finances. I know when you get way in debt, it is hard to get out.

We have a new President coming into office, but I don't have any faith in his understanding of our national debt and how important it is to quit spending like we have been.

CHICAGO (AP)—President-elect Barack Obama says he knows he'll have an "enormous deficit" to confront once the economy is back on track. But he says it'll be easier to tackle that deficit when the economy is up and running. Obama told reporters in Chicago on Friday that every economist he's spoken to has told him that the most important thing to do—even for the deficit—is to fix the economy. Otherwise, he says, the government will have to spend more on services for out-of-work Americans, and the deficit will grow even faster.

I found that on BREITBART.Com.

Our new President is going to wait until the economy gets better before he starts working on our deficit. I tried that one time, and things never got any better until I bit the bullet, and stopped spending and paid down my bills.

It has been reported that it takes all the income tax from everyone living west of the Mississippi to pay the interest on our debt now. What happens when it takes everyone's taxes to pay that interest?

So, what are you and I supposed to do? Washington wants us to go out there and spend. Some people tell us to get ready for high inflation. Others tell us that deflation is what we are to worry about.

I don't know. I do know if you have some money socked away and inflation hits, that money is going to lose its value. You can buy gold or silver, but if things get really bad, who is going to buy that metal from you, and what are they going to buy it with?

I guess the question is, what can you buy that will be worth a lot if everything goes bad, but will not lose its value if things turn around and get better. If you have any ideas on that one, I'd be really interested and will pass any good tips along. About the only thing I can think of that fits that bill is good quality firearms and ammo.

What do you think?

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