Oracle of Liberty

Constitutional Liberty and Economic Common Sense

The Only Way To Show Leadership In A Debt Ceiling Crisis Is To Refuse To Negotiate On The Debt Ceiling



The Federal Reserve prints money, not the government, remember the Fed is ‘independent’. The US Treasury creates a Note that is sold to US or foreign investors, often times the Fed and if those bonds that come due are held by the Fed then the Fed returns any funds paid to it back to UST. The UST can then “borrow” money w/out needing to pay it back. (called “monetizing the debt”). This is inflationary. And paying back borrowed money with borrowed money is a recipe for disaster, especially when you butt up against the debt ceiling 100 times in ur history. Borrowing more each time.

our current national debt is >100% of GDP and stands at $17 trillion. Obamacare will break us, our economy is going into a tailspin regardless of the debt ceiling/shutdown (which is just cover to mask the sell off and pending crappy growth stats) and the world economy is sucking for air right now. The US holds 1/3 of all worldwide debt. This is unsustainable. Unless you think your great grandkids are just bad people who deserve to have to pay your ransom.

As of the Orace of Liberty site, you clearly do NOT know what you are talking about. But then again, you are on HuffPo which is a ‘far-left libtard’ media rag right, and so maybe we shouldn’t trust them to tell us who is responsible for the budget and debt ceiling shenanigans currently taking place in D.C.
More on Barack Obama
Read the Article at HuffingtonPost

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This entry was posted on October 3, 2013 by in Uncategorized.

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