by Bix Weir, Road To Roota:
There has been a lot of discussion in our circles about the insanity on display in Washington when it comes to spending and our monetary policy. The latest budget signed by Congress included a provision to guarantee over $300 TRILLION in bank derivative obligations of the banks. $300 TRILLION!! That’s more than the United States has received in tax revenue since the FOUNDING OF OUR NATION!
Although Congress has “talked the talk” of balancing the budget and limiting the debt for over 40 years it has never really been done. Sure, the Clinton Administration appeared to make some inroads…but it was all smoke and mirrors. In the Clinton years they changed all the rules about what to report in order to make it look like things were getting better but it was all a con. They just changed all the reporting rules!…like calling Social Security payments “revenue” to offset even more spending and changing the components of the CPI to mask the real inflation rate.