Economic Devastation Ahead

The US needs a plan to pay down the national debt.  Reducing spending to match revenue is a good start.  Beyond that, the US federal government needs to be able to stop offering Treasury Bills.  There are no real buyers for these except the Federal Reserve and the really shouldn’t be buying these. 

 

Failure to begin paying down the debt has resulted in a decline in private investment in the US. The federal government needs to establish credibility that it is not a zombie government waiting for the death of the US dollar and hyperinflation.

 

Will Governments Ever Cut Spending to match Revenue ?  Or will governments continue down the road to recurring currency crises ?

 

Are there any economic issues that cannot be resolved ?   Can Western governments balance their budgets and repay their debts ?

 

Are there any negative economic consequences that can be avoided ?  Can the Federal Reserve 450% increase in the money supply be clawed back ? 

 

Do unsustainably indebted countries intend to repay their debts ?  Will over-borrowing and overspending by government always end with hyperinflation and discontinuance of issuing the currency ?

 

If this continues in the US, we the citizens are in for a long period of economic devastation created by federal government overspending, poor decisions and gross mismanagement.  We need to hold the federal government accountable now to reverse course to mitigate this disaster. 

 

Norb Leahy, Dunwoody GA Tea Party Leader