Tuesday, March 22, 2011

Other Than This, Things Are Fine!

It's still the spending, stupid.

The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday. "If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech...

Not to worry. B Hussein PixieDust will save us.

3 comments:

J. Strupp said...

Pile of crap. There is no evidence that the U.S. is on the verge of insolvency in the near term. We are plenty capable of levying higher taxes and/or using the debt market to our advantage. There is no proof of this kind of accusation.

Dad29 said...

Umnhh,...yah.

He's the FRB Pres at Dallas. I'm not.

And no, we're not 'insolvent' if we increase taxes by 100% across the board--and remove all refundable credits, too.

Deekaman said...

yes, there is an pile of OPM out there that can be taxed to temporarily stem the tide, but since Congress has shown no propensity to quit passing that money out to constituents, I see no "fix" in higher taxes.