Why would we take on 5 trillion dollars in debt in an economy that is dangling by a thread? We are feeling the damages brought on by a weak dollar everyday at the pump so why is the privately owned Federal Reserve going to print money out of thin air pushing inflation to new heights? To help China of course who just happens to be the largest investor in Freddie Mac and Fannie May with nearly 400 billion dollars.
Brief Article here:
Chinese Government is Top Foreign Holder of Fannie Mae, Freddie Mac Bonds
The worst part is with the Federal Reserve bailing out banks left and right DOUBLING our national debt, the "economic stimulus package", the endless war in Iraq and our foreign policy of policing the world the bill will come due, and since we don't have nearly the money to pay such a bill the privately owned Federal Reserve will run the presses and print trillions upon trillions of dollars to pay for it. Then it will put the brakes on inflation and jack interest rates up like they did in the late 70's to around 20%, not just putting the brakes on the economy but throwing it in reverse.
As a final note, there has never been a better time to get out of credit card debt! Pay off your cards and live within your means regardless of what you must give up! Also lock yourself into a fixed rate mortgage don't fall for the adjustable rate crap they have come up with. If you do those two things it will put you ahead of the vast majority of Americans who sit back and watch TV oblivious to the facts that our ship is sinking.
