MOGAMBO GURU: So Much Debt Makes Me Howl Like A Banshee In My Fury

Richard Daughty, the angriest guy in economics -- World News Trust

I am sitting, alone, in the Impenetrable Mogambo Bunker Of Ultimate Defensive Posture (IMBOUDP), and voices that insist they are my "family" are begging me to open the blast-proof door and at least give them back the TV remote control. So I decide to ask them an easy question to find out if they are really my family or, as I suspect, nefarious imposters. So I shout out, "Hey! Morons!" and someone shouts back, "We don’t like being called morons, daddy!" And so I say, "Okay, Einstein; do you know what the Federal Reserve has done to the value of your money since the Fed was created in 1913, only faster and faster and faster until you can't catch your breath anymore? Huh? Do ya, moron?" And they admit, "Well, no. But we know that's why you have locked yourself in there with the TV remote!" Triumphantly I exclaim, "Then you're all morons!"

Please notice that I asked them an easy question, when I could have asked them something more difficult due to its recent-osity, such as, "Do you know how much more debt the Congress just authorized to be loaded onto our breaking backs?" The answer is, in case you were wondering, $781 billion, bringing the total official Treasury debt limit to just under nine trillion dollars. In case you, for some reason, like seeing all the zeroes, it is written out as $9,000,000,000,000.00. That's nine huge, insanely gigantic trillion dollars, which comes to roughly about $90,000 for everybody who has a job in the whole freaking country. At 5% interest, your government will pay out $450 billion a year just in interest payments alone! Which is, again roughly, about $4,500 for everybody who has a job.

Anyway, the Senate Finance Committee Chairman Charles Grassley, who is, they say, a Republican Senator from Iowa, said that they are passing the huge increase in the national debt limit because, "It is necessary to preserve the full faith and credit of the federal government." Hahahaha! Meanwhile, this same Senator and his fellow Senate buddies have also, according to the Associated Press, been working on their proposed version of next year's budget, and have "adopted a $2.8 trillion budget blueprint that anticipates deficits greater than $350 billion for both this year and next."

Wait a minute! The government he so proudly represents budgets only a $350 billion deficit for the next fiscal year, and yet the same government, at the same time, allowed the Treasury to issue $781 billion in new bonds, which is only enough to last them about a year? More than twice as much? Hahaha! This is too rich! "Full faith and credit!" And this is the Senate Finance Committee Chairman saying this! Hahaha! "Full faith and credit!"

more

http://worldnewstrust.org/modules/AMS/article.php?storyid=2824

I'm not sure whether to :applause: or :cry: