Many of the present problems surrounding the dollar have been exploited by the Tea Party who have sought a balanced budget and refused to permit any more federal borrowing until the federal government have made concessions on spending without raising taxes. In economics there is much to be said for only spending what you have, and not mortgaging the future beyond what you can afford, at least to my simple mind. Every nation has to mortgage the future to some extent, and the USA is no different from other nations in that it borrows. Its constitution requires the borrowing to be within a ceiling specifically permitted by the legislature. (more…)
Filed under: banking | Tagged: balanced budget., dollar as a reserve currency, interest free loan, parasitical dollar, reserve currency, stressful days, tea party, the united states, Vladimir Putin | Leave a Comment »
