Comments on: What are congressional spenders smoking? http://backboneamerica.net/2006/04/27/what-are-congressional-spenders-smoking/ Rallying citizens to shoulder personal responsibility and restore consitutional government. Wed, 23 Dec 2009 01:40:32 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Brian Ochsner http://backboneamerica.net/2006/04/27/what-are-congressional-spenders-smoking/comment-page-1/#comment-434 Brian Ochsner Wed, 03 May 2006 04:35:18 +0000 http://backboneamerica.net/2006/04/27/what-are-congressional-spenders-smoking/#comment-434 The last part of my comment didn't make sense. The federal government has no intention of trying to re-pay the debt by doing the common sense thing: Reducing spending, having a surplus, and using that surplus to pay down our federal debt. It looks like the strategery is to keep govt. spending high to keep the GDP and economy going, inflate the heck out of the money supply, and use those highly/hyper-inflated dollars to pay the interest and maybe some principal on the debt. This monetization of the debt is better for govt., but not for consumers as our dollars continue to lose purchasing power every year. The last part of my comment didn’t make sense. The federal government has no intention of trying to re-pay the debt by doing the common sense thing: Reducing spending, having a surplus, and using that surplus to pay down our federal debt.

It looks like the strategery is to keep govt. spending high to keep the GDP and economy going, inflate the heck out of the money supply, and use those highly/hyper-inflated dollars to pay the interest and maybe some principal on the debt. This monetization of the debt is better for govt., but not for consumers as our dollars continue to lose purchasing power every year.

]]> By: Brian Ochsner http://backboneamerica.net/2006/04/27/what-are-congressional-spenders-smoking/comment-page-1/#comment-426 Brian Ochsner Mon, 01 May 2006 23:34:13 +0000 http://backboneamerica.net/2006/04/27/what-are-congressional-spenders-smoking/#comment-426 Congress is doing this because most Republicans on the Hill have forgotten the core principles of our party: Lower taxes/spending, less regulation, and personal responsibility. With the exception of Tom Tancredo, Ron Paul and a few others, they seem to have almost gone insane when it comes to fiscal policy. Another reason is our new Federal Reserve Chairman, "Helicopter Commander" Ben Bernake. I nicknamed him this because of a speech he made in 2001, where he said our country could crank up the printing presses, and drop an unlimited supply of dollars from helicopters to keep the economy going. Congress has also drank the Keynesian Kool-Aid, beliving that borrowing, spending and juicing of the money supply will help us avoid a Financial Reckoning Day, where we'll pay penance for our financial sins. This will help us delay the pain, just like a drunk does in drinking more tequila shots when he's almready hammered at 2AM. The inevitable hangover will come, just a few hours later - or a few years, when it comes to the American economy. Our leaders have no intention of trying to pay back the $8-plus trillion in debt - not to mention the future obligations for Social Security and Medicaid. Our leaders have chosen to inflate the money supply, so they can pay back this debt in cheaper dollars. That's why I highly recommend that people invest in commodities (such as silver and gold) instead of financial paper assets, such as stocks, bonds and mutual funds for at least the next 5-10 years. Congress is doing this because most Republicans on the Hill have forgotten the core principles of our party: Lower taxes/spending, less regulation, and personal responsibility. With the exception of Tom Tancredo, Ron Paul and a few others, they seem to have almost gone insane when it comes to fiscal policy.

Another reason is our new Federal Reserve Chairman, “Helicopter Commander” Ben Bernake. I nicknamed him this because of a speech he made in 2001, where he said our country could crank up the printing presses, and drop an unlimited supply of dollars from helicopters to keep the economy going.

Congress has also drank the Keynesian Kool-Aid, beliving that borrowing, spending and juicing of the money supply will help us avoid a Financial Reckoning Day, where we’ll pay penance for our financial sins. This will help us delay the pain, just like a drunk does in drinking more tequila shots when he’s almready hammered at 2AM. The inevitable hangover will come, just a few hours later – or a few years, when it comes to the American economy.

Our leaders have no intention of trying to pay back the $8-plus trillion in debt – not to mention the future obligations for Social Security and Medicaid. Our leaders have chosen to inflate the money supply, so they can pay back this debt in cheaper dollars. That’s why I highly recommend that people invest in commodities (such as silver and gold) instead of financial paper assets, such as stocks, bonds and mutual funds for at least the next 5-10 years.

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