and nobody came?

http://www.google.com/hostednews/ap/...WZGdQD981KVDG4

The budget projections have to consider interest payments on all of
the debt Obama planned to buy while running deficits, and any hike in
interest rates means that those interest payments will have to go up.
That also means that we will have to spend more money than Obama
projected, creating even higher deficits and the need for even more
bond sales — and more interest payments on those.

It’s basically a Ponzi scheme, and it’s accelerating.

And the taxpayer is on the hook.

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.

Which one of the two do you think The One is likely to try?

Heh - Bernie Madoff should be jealous of Obama.

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.

thunder wrote:
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.


Tommy's concern is directly related to who controls the White House.
Republicans? No concern. Got it? :)

"Tom Francis - SWSports" wrote in
message ...
and nobody came?

Recently, they had an oil lease auction in Utah. Some smartass
environmental type kid thought he'd be slick, and overbid everyone,
therefore derailing the auction, but him never paying up.

He's paying up now, either in cash, or at the rate of a couple of bucks a
day for time spent.

Steve