With the signing of the debt-ceiling deal reached by a Congress that sold out its Tea Party supporters, President Barack Obama has accelerated the United States along its path to economic ruin.
Neither in this universe nor in any alternate universe is it logical to choose to increase spending to solve a problem caused by already profligate spending. Tea Party members and Austrian economists understand this. The political elites either do not understand or, more likely, do not care.
They choose to continue kicking the can down the road while inflation robs the savings of average Americans.
The Founders understood this, though. Thomas Jefferson wrote: “The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
Our future is being swindled; it has been for a very long time. 2012 can’t get here fast enough. The elites will be shocked by the results of that election.