Speaking of the debt. Here's a quick question - True or False - the debt ceiling will be reached on August 2? Like me, you probably quickly answered "True." That would be wrong. The actual debt ceiling was reached on May 15. "WTF? WTFF????" I hear you cry. That's right...and the world did not end, Grandma isn't eating the wallpaper to stay alive... The Tax Cheat Treasury Secretary instituted a policy known as "DISP" or "Debt Issuance Suspension Period." How's he been paying the bills? Easy - by raiding government pension funds. Read all about it over at Casey Report's Daily Dispatch: "The Despicable DC Looters."
This just in: "Obama says 80% of Public Sold on Tax Cuts." This guys is starting to scare me. It's not good to have someone that lives in a fantasy world this close to the nuclear buttons. Here's a poll from Rasmussen just yesterday: "55% OPPOSE Tax Hikes As Part of Settlement." If this guy's support keeps eroding we might see a presser like this in the near future:
On vacation recently, I re-read Bill Whittle's excellent essay, "The Iceberg." It's over a year old now but still astonishingly accurate. I'm with him on this theory - the Titanic would have survived if she had rammed the iceberg or if she had missed it entirely. The worst case scenario was the late attempt to miss which sliced open enough of her hull that too many compartments filled. Looking at this debt ceiling kabuki dance, I say "Full speed ahead!"
|At full speed, rudder amidships this would have been avoided.|
That's it for me - have a great weekend!