And with the stroke of a pen, the government injects a hundred-odd tractor trailer loads full of monopoly money into the economy–all of it borrowed, of course, since they don’t have an extra three quarter trillion bucks in the till over at the Treasury.
I don’t know how this is all going to pan out–I’m hoping for the best, and preparing for the worst–but I do know this: our kids and grandkids are going to hate us for saddling them with the bill.
I also know that the Republican cries of “fiscal irresponsibility” and “deficit spending orgy” would be a whole lot more credible if they hadn’t put a trillion-dollar bill for two wars and a massive fed.gov expansion on the same national charge card just one administration ago.
This nonsense proves once again that nobody in Washington has the fiscal acumen to balance a checkbook. (It also proves that the majority of the electorate doesn’t, either.) I read the other day that one of the architects of Zimbabwe’s record inflation rate (over a quadrillion percent at latest count) was their finance minister, who went into the bank computers once they were under government control, and simply added strings of zeros to the balances in the government accounts…as if you can just magically multiply your wealth by shifting a comma in a computer, or printing bills with bigger numbers.
Stock up on wheelbarrows, friends and neighbors. If things keep going the way they’re going, we’ll need ’em soon to cart around the cash needed to buy a loaf of bread and a gallon of milk. I hope I’m wrong, I really do.