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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Wednesday, March 21, 2012

Why the US government will default on its obligations.....



The government of the US will never be able to pay its obligations to retirees nor will it be able to continue to rack up debts as it is doing today. As we see from the video above, the nation will not be able to afford to make payments on its debt if interest rates rise. If the central bank continues to monetize the nation's debt then we can expect that interest rates will definitely rise and so will inflation.

Inflation is just a tax on people and is foisted upon the citizens by feckless and irresponsible governments. The problems that we face will be largely caused by communist national programs such as social security and national medical programs that are both impossible to manage and are funded through a Ponzi style mechanism that promises no pain today and forces our children to foot the bill tomorrow. This is the legacy of Roosevelt and Johnson era Democrats that lost the vision of a free and sovereign people and set the nation firmly onto the path of servitude to a central government.

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