A Bleeding America

The United States is hemorrhaging red ink. We have a President and Congress who could countenance breaking the nation. Most Republicans in Congress are just as culpable as the Democrats in the national debt spiraling beyond control. And only a handful of D.C. politicians have the guts to save the country from economic cataclysm. America is a wounded man being treated by an eighteenth century doctor- as the patient's vitality seeped away, even the dumbest physician of that era did not suggest bleeding him on the wrist to stem the flow of blood from his leg. No debtor nation can or ever will spend its way back into prosperity. Printing fiat money only devalues the currency that much more and soon our Chinese and OPEC creditors will no longer feel confident about holding US debt any longer. Stagflation is virtually certain and hyperinflation like the Weimar Republic or Zimbabwe becomes an increasing possibility. Unfortunately, the political will does not exist among those with power to do anything to salvage the situation.