I listened to Obama today and the man can certainly speak. They are touting apocalyptic consequences again if the debt ceiling is not raised and spoke right to the folks who get handouts from the govt. But what happens when the debt ceiling is raised in terms of inflation? Supposedly this money goes to pay for commitments and contracts already made and that money will get spent. Then what? Is there more money going into circulation or is it just to keep the ponzi going awhile longer with no discernible effect of inflation?
Listen to Mr. O, I couldn't help think that we should default. Who are we really helping by going into more debt? If I was in my 20's I'd be promoting default to wipe out all the crap built up that I didn't have a say in. Any more debt put on now goes to future generations - so maybe there should be a movement started to promote default. Wonder if you can force govt. to default by vote?
If I was someone loaning to the US, I'd probably be more interested in it if it could actually pay it's bills with money that's not going to lose value. Default on current creditors, citizens and banksters and then start over.
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