Saturday, June 18, 2011

Convergence

Alan Keyes used to say that the problem in this country is not economic, it's moral.

The two converge when you consider "the US Government is now paying over 1/3rd of US incomes… and it’s financing this by having the Fed buy new debt from the Treasury."

This is much more than a dollar and cents transaction and its moral meaning must be clear to the actors involved.