On Fri, 08 May 2009 09:57:51 -0400, Tom Francis - SWSports wrote:


One of two things will have to occur to resolve the situation. Either
Obama's administration and the Demomorons in Congress will have to
massively cut spending in order to service all that debt at the higher
interest rates now demanded, or it will have to pass massive new taxes
in order to generate enough revenue to accomplish it.

There's a third option, default. Tell China to pound sand. Nobody will
buy our debt, and we'll have to get our house in order. Works for me.

By the by, what's with all this deficit concern now? For 30 years, we've
been running up massive debt, and getting nothing for it. At least
Obama's massive deficit spending fended off the another Republican
depression. I'd point out, that if we had another Great Depression the
cost, in today's dollars would have been upwards of $20 trillion. I'm
thinking we got off cheap.