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Let’s say for the sake of discussion that you owned one of the few Babe Ruth rookie baseball cards still in existence. Its estimated value is currently, I believe, somewhere in the neighbor hood of 200,000.00. Tomorrow you wake up, mosey out to the end of your drive way and pick up your morning paper to read this headline, “10,000 Rookie Babe Cards Found.” Now you know what happened to the dollar.
Every year our government runs what it and the media refer to as a deficit. A deficit is simply the difference between what a government takes into its coffers through taxation and what it expends in programs, entitlements, and defense. Currently the national debt according to usdeficit.com is 9.2 trillion dollars. Now sit back in your chair and try and picture one billion 1 dollar bills. Can’t do it can you, it’s unimaginable. It is pointless then for me to ask you to try and picture one thousand billion one dollar bills!
A few days ago the president proposed a 3 trillion dollar national budget that by conservative estimates would leave us in debt an additional 300 billion dollars for 2008. So, if it’s acknowledged openly that we don’t currently have the money, why won’t government checks begin to bounce sometime this year. Well first we will offer treasury bonds to investors in which we will agree to pay back the principal plus interest for agreeing to loan us the money, but that won’t even come close to paying the deficit and in fact will just defer a greater debt to our children. At that point our government will do the only thing it can do, it will just roll new dollar bills right off the presses and right into our economy, diluting the value of your Babe Ruth rookie……..I mean dollar bills. In fact the numbers are so startling concerning the amount of money being printed, that the Federal Reserve has ceased to track it. Think of it this way, if servicing the debt on your 150,000.00 home mortgage in simple interest over thirty years causes you to pay one and half times the agreed price, how are we, the citizens of the United States, going to service a 9.2 trillion dollar debt paying with a currency that devalues every time the printing presses get turned on. Moreover, every time the printing presses get turned on it’s because we owe more money and the problem is further exacerbated. Now next time you hear Sean Hannity say deficits don’t matter you should realize not only does he have no idea what he is talking about but he has no idea what men like myself and Ron Paul are talking about either. No one can be for reducing the size of government while running a national debt, because debt is caused by big government. There is also no way a government can be small while occupying 130 countries with 700 military bases world wide. You can either be a limited government, fiscally responsible, non-military interventionist conservative or you can be a big government, fiscally irresponsible, interventionist liberal. Sean announced on today’s program that he voted for Mitt Romney who according to the National Taxpayers Union proposed 19.5 billion dollars in new spending and a desire to continue an occupy the world philosophy. I guess we now know where the good Mr. Hannity stands, don’t we.
