Guns and Gold

I just read this in today’s Daily Reckoning.

“Once they get a taste for it,” Bill Bonner observed in his essay “Tomorrow Happened Yesterday”, “few economies can resist spending money they didn’t earn. First, they borrow from the future. Then, they steal from it, by simply printing money. Finally, you get déjà vu, as yesterday’s greatest financial disasters happen, once again.”

A few paragraphs later you get to a very perceptive point.  Emphasis mine:

“Consider this,” our colleague, Porter Stansberry, observed recently, “Even if the US government collected 100% of the income of all the people who make more than $250,000 a year, it would have still run a deficit last year. Even if you doubled the entire amount of income taxes collected, the Federal government would have run a deficit last year. There is no way to balance our budget, no way to prevent the literal bankruptcy of our country and the runaway hyperinflation that would result, unless we dramatically cut the government’s budget.”

So shut up about making “the rich” pay their “fair share”.  The top 1% of taxpayers paid the same amount of taxes last year as the bottom 90% – combined.  The bottom 50% pay nothing.  Nodda.  Zip. Zilch. 

All the takers and fakers better shut up or “the rich” will take their ball and go home.  Read Atlas Shrugged if you don’t understand what I mean.

I started out by wanting to talk about record gun and gold sales, but it morphed into a “cut spending” diatribe.  Sue me.

The morons in DC don’t have a clue as to the magnitude of this problem. 

Don’t believe me that the politicians are simply playing politics with our money?  Oh ye of little faith, allow me to enlighten you….

Read this link from TheHill.comGOP points out Schumer voted against raising debt ceiling

Republicans are responding to demands by Sen. Charles Schumer (D-N.Y.) that they renounce threats not to raise the debt ceiling, by pointing out that Schumer himself has voted against increasing it in the past.
Schumer, when he served in the House minority and Senate minority, voted against raising the debt ceiling, Speaker John Boehner’s (R-Ohio) office pointed out Tuesday.
He voted against it in 1997 and 2003 in the House and in 2004 and 2006 in the Senate.

Alrighty then, the Republicans nailed the Democrat hypocrite! Yeah!  GOP!  GOP!! GOP!!

Not so fast you Republican hypocrites….  Read this link from ThinkProgress.com: During Bush Presidency, Current GOP Leaders Voted 19 Times To Increase Debt Limit By $4 Trillion

June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”, Kyl votes “nay.”

May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All four approve.

November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All four approve.

March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All four approve.

September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All four approve.

That’s right boys and girls.  The exact same Republicans who are today against raising the debt limit, voted to raise the debt ceiling – repeatedly – when Bush was President and wanted to waste our money.  So STFU.

Simply because a Democrat liar is in the White House, Republicans are against raising the limit and Democrats are for it.

But just a couple years ago when a Republican liar was in the White House, the Democrats were against raising the limit while the Republicans were for it.

Now, does anyone doubt that they are ALL lying turds who simply do what they see as politically expedient at the time?  That’s what I thought.

That concludes today’s lesson in US Politics. Fire them all.

gk

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