“Whenever governments are granted power to purchase their own debt, they never fail to do so, eventually destroying the value of the currency.” – Ron Paul
Let’s take a step back and look at the big picture so we can assess the US government’s financial situation, where it’s likely headed, and what these trends could mean.
Observation #1: It’s Politically Impossible To Cut Spending
Among the biggest expenditures for the US government are so-called entitlements like Social Security and Medicare.
It’s unlikely any politician will cut entitlements. On the contrary, I expect them to continue growing.
That’s because tens of millions of Baby…
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