Here comes the fear mongers with gloom and doom of what will happen if the government shuts down because the debt ceiling was not raised. Many big spenders in the US House and the Senate are saying people,will not get their Social Security Checks and Veterans will not get their pension if the government shuts down because the government can not borrow anymore. This is one of the reasons this nation is in so much hot water because the excessive borrowing to fund a bloated government.
Maybe this might help the dollar stop losing its value and the people can retain its purchasing power because the government can not borrow money.That is the best case scenario The average American household does not have the luxury of raising its debt limit with the credit card companies and with the bank at will with a family vote at the dinner table to maintain a unaffordable lifestyle,They do not have the option either making photo copies of hundred dollar bills either to spend to their hearts content. They have to cut back on expenses and live within their means. To not get into more debt is the most rational thing to do.
The Bush and Obama administrations has expanded the size of government to a bloated bureaucracy that neither produces ,nor serves any useful purpose to the people. Not raising the debt ceiling and start to put the brakes on borrowing might force government to do what the American people always did for years. Make sacrifices to keep the basic functions of government operational in its proper scope within the constitution.I do not see that happening.They will fire up the printing presses at warp speed. Some people in Congress who derive their power from spending money we do not have are the ones preaching gloom and doom to the economy if the debt ceiling is not raised. The will say the government can not function without borrowing and spending to keep this over sized government running.There is something more they fear.
Maybe not raising the debt ceiling.We might see what has happened when the Old Soviet Union Collapsed if the government can not borrow anymore and can not print its way to fund itself anymore without destroying the dollar to the point it can not pay its own workers anymore or the paycheck is worthless nobody will show up for work for useless paper money. The Federal Government has ran out of options. It can not borrow anymore and can not print paper money anymore to sustain itself. Now I see a handful states like Virginia are looking into alternate currencies to stay functional when the dollar is worthless because they see the writing on the wall.
What really has the big government politicians really scared is that there will be no doom and gloom that will happen as they predicted. If the government shuts down because it can not borrow anymore because the debt ceiling is not raised. They can not create money out of thin air with the help of the Federal Reserve Bank to sustain its bloated bureaucracy with a worthless currency. States are making moves to have their own currency in place when the dollar becomes no more. Many states will be set free from the private bankers debt based currency if they have their own money system in place. States like Texas and Montana might declare its independence and succeed being sovereign republics.A chain reaction could take place were states will regain its own sovereignty outside their system is what has them scared. I believe this is there biggest fear because not borrowing to spend is a threat to their power.
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