Tuesday, April 28, 2009
Democrat Spending Breaks U.S. Treasury
Via Yahoo News
Treasury Secretary Timmy Geithner says the U.S. Treasury needs
to borrow another $361 Billion in the 2nd Quarter to keep up with Democrat spending and will need between $515 to $530 Billion
more during the 3rd Quarter.
Will the Fed have to raise interest rates to make the loans more attractive, costing all Americans more money in higher financing
costs during a recession? An economic disaster, a real jobs killer.
China is the largest holder of U.S. Debt should PRC lose confidence in the U.S. ability to pay its bills, we are in serious do-do.
If the Treasury doesn't have any takers to finance the growing U.S. Debt, they will have to print more money, raising the inflation rate.
Obama inherited the lowest misery index in 45 years but what will it soon be with the ever increasing rises in unemployment and inflation during Obama's watch?