The bright side of Federal budget negotiating failure is that it might compel budget reform. With the default date of 17 October fast approaching and the Democrat Party refusing to face the negotiating reality it is quite possible that the Federal Government may go into default on its debts for the first time and in so doing start the apparently necessary steps for budget austerity. Welfare to the rich and regulations made to concentrate wealth along with indifference about federal government reform have made the escalation of debt perennial. At 17 trillion dollars a default capping the debt might be the shock needed to get the rich politicians to put there thinking caps on about reform.
With federal default the cost of federal borrowing will rise. As it is the federal government for some time has been issuing electronic currency at zero interest to wealthy banks-about 85 billion dollars a month, so the money supply available for the government to borrow at a much higher interest rate is no problem. The federal economic geniuses will find a way to deepen the indebtedness of the United States while cutting programs for the poor without trouble. The poor are always the first to be thrown under the bus by corrupt governments.
It would be helpful if N.P.R. had it's federal financing cancelled. They make it difficult to take the U.S. Government seriously. With a KGB-like propaganda branch such as it is who needs foreign propaganda agencies?
With federal default the cost of federal borrowing will rise. As it is the federal government for some time has been issuing electronic currency at zero interest to wealthy banks-about 85 billion dollars a month, so the money supply available for the government to borrow at a much higher interest rate is no problem. The federal economic geniuses will find a way to deepen the indebtedness of the United States while cutting programs for the poor without trouble. The poor are always the first to be thrown under the bus by corrupt governments.
It would be helpful if N.P.R. had it's federal financing cancelled. They make it difficult to take the U.S. Government seriously. With a KGB-like propaganda branch such as it is who needs foreign propaganda agencies?
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