It seems that the Liberal Congress and Obama are hell bent on devaluing our dollar:
Congressional Democrats overwhelmingly embraced President Obama’s ambitious and expensive agenda for the nation yesterday, endorsing a $3.5 trillion spending plan that sets the stage for the president to pursue his most far-reaching priorities.
Voting along party lines, the House and Senate approved budget blueprints that would trim Obama’s spending proposals for the fiscal year that begins in October and curtail his plans to cut taxes. The blueprints, however, would permit work to begin on the central goals of Obama’s presidency: an expansion of health-care coverage for the uninsured, more money for college loans and a cap-and-trade system to reduce gases that contribute to global warming.
The measures now move to a conference committee where negotiators must resolve differences between the two chambers, a prelude to the more difficult choices that will be required to implement Obama’s initiatives. While Democrats back the president’s vision for transforming huge sectors of the economy, they remain fiercely divided over the details.
$3.5 trillion dollars; That’s more money than I’ll ever see in this lifetime. Spending that much money will do nothing more than devalue our dollar to the point where the simplest things will cost more than most can afford. Ron Paul said it right in this video here; the Liberal Congress are simply trying to recreate the bubble that burst and they are simply going to try create another.
This of course will create another burst somewhere down the road that will be greater than this one. Our only hope is that someone like Mark Sanford will get in there and order the fed audited and possibly closed. Also maybe Sanford would put us back on the Gold Standard and back Austrian Economics and put this silly Keynesian economics to pasture, where it belongs.
One can only hope.
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Flummoxed.