The great default is rapidly approaching. Time is running out. Like a runaway freight train…there’s no stopping it.
To start, the U.S. government is broke. The only thing keeping the lights on in Washington is $1 trillion per year of Fed debt monetization. Without it the Treasury could not pay the bills.
What’s more, it’s impossible for taxpayers to make up the funding gap. The clowns in Congress have made too many promises, to too many people, for far too long. They can’t significantly cut the budget or raise taxes…their reelection depends on spending money they don’t have on programs the people can’t afford.
Regrettably, things are much more grave and dire than most Americans know. They’ve been told they could have a free lunch. What we mean is Americans have been actively misled by the institutions that are supposed to keep the government in check.
Take the Congressional Budget Office, for instance. Its official budget forecasts are mere propaganda for Congress. They’re not doing their job. They are blatantly misleading American taxpayers. Continue reading
