Response to Obama Prepares To Screw His Base:
Can any liberal on this site tell me how this ends well? Almost $17 trillion in debt now, $25 trillion in 10 years, $35 trillion by 2035. Even if interest rates stay around 2% (which of course they can’t), the interest on the national debt in 2035 will be $7 trillion. Of course, we’ll never make it that far with the trajectory we are on. Anyone with any knowledge of mathematics can see the writing on the wall. We are headed for financial collapse, probably fairly soon. As soon asacountry starts paying it’s debts by printing money, the collapse becomes inevitable. Bernanke has been printing about $2 trillion during the Obama administration to keep the interest rates low. If he stops printing money, then interest rates go up and interest on the debt skyrockets. If interest rates jump just to the historical rate of around 5%, our interest on the debt will be almost $1 trillion, aboutaquarter of the annual budget. And it will only get worse. Obamaphiles, how does this end well? And don’t bother to throw your insults at me. I’maPhD scientist with an IQ over 140, so I’m not an idiot.Isincerely want to know how we get out of this freefall. I’ll bet we hit fairly soon and it won’t be pretty. Please use logical arguments and facts to convince me otherwise.