Friday, July 29, 2011

Money, Money, Money, Money!

The ability of the United States of America to take on more debt will increase for the following reasons:

a) We exists within a global economy, not a national economy. And for better or for worse, debt is what makes it work.

b) The U.S. dollar is the world's reserve currency -- a position we are not willing to abandon now.

c) The trees have not yet been shaken (i.e., the stock market has yet to go bananas).

d) The debts ceiling has been raised many times in the past -- this is just polytricks.

e) Push come to shove, President Obama will sign an executive order to raise the debt ceiling if Congress tries to mug his presidency with their obstinance.

No comments: