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More Balanced Budget Nightmare

November 26, 2010

As long as we have articles like this about the deficit, our economy is screwed.

Senate Republicans have endorsed a call for a constitutional amendment requiring the government to balance its budget after Tea Party candidates made erasing the deficit a rallying cry throughout the U.S. election campaign.

While the calls may be urgent, even Washington’s leadingdeficit foes say it will take decades to balance the books.

We are doomed if these guys get control of the federal budget.  They do not understand that the Federal Government needs to run a Deficit to finance Private Savings.

Government Savings + Private Savings + Foreign Savings = 0

What does Foreign Savings mean for a reserve currency like the USD – or for that matter, any currency?

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