So, Are We Going To Keep Spending?
by James Glaser
April 5, 2011

Washington is starting to ramp up its PR Campaign to get us all in the mood to borrow more money. Here is the first salvo:

(Reuters) — The United States will hit the legal limit on its ability to borrow no later than May 16, Treasury Secretary Timothy Geithner said on Monday, ramping up pressure on Congress to act to avoid a debt default.

You can see that the White House has decided that it is an either or proposition. Either we borrow more money or we go into default, which is a nice way of saying we declare bankruptcy.

I guess President Obama and his team have no thought of living within our means for a change. That would require that we cut spending down to the point that we only spend what we have coming in with taxes. How novel, eh?

Of course that would mean that we could no longer run around the globe killing whomever we wanted to, and it might require that we start bringing our troops home. However, both of these ideas would cut the profits of the Military Industrial Complex, so that isn't going to happen.

Obama is going to keep right on spending, until we get to the point that nobody will loan us any more money. He will keep spending to keep profits going to those who put him in office. When that spending ends, we will have a worldwide financial collapse. That will either bring on a huge war or a world wide recession that will make this last one seem tame, or maybe both.

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