We are going to find out, and soon.
People keep saying, “what happens when?”
We are right on top of the answer. Within 4 years we are going to limit out our ability to monetize our own debt without causing hyperinflation.
Why do you think the federal debt rose 6 trillion in 4 years? That’s the money we spent OVER the taxes we took in.
And tax flow to the government is slowing year on year.
It’s already past no return. That’s why we needed Romney. Just to HALT the debt GROWTH we would have to slash federal spending by 50% or MORE. That means a virtual overnight halt to entitlement spending, cutting social security in half, medicare in half and shaving a little off defense.
Cities will burn.
And that’s if we do it voluntarily NOW. 4 years from now, we will have a full currency crisis and almost no one will own a home. Simply feeding yourself will be a feat.
I don’t think we’re going to have an election in 2016, not a real one.