Dark and ominous days ahead.
We have now entered the point of no return. Our politicians, on both sides, have agreed to continue with more than $2 trillion dollars per year of deficit spending. No serious attempt to bring reckless spending under control. The federal reserve will have to finance the extra $2 trillion at today’s high rates.
They will also have to refinance the $8 trillion in loans taken since the 2008 crisis. These were taken at zero to 1% and now need to refinance at 5% to 6%. We will have high inflation to hyperinflation for many years.
Inflation is not coming down anytime soon. The price of gas and food will stay high and go higher. Evidently, our politicians do not know the impact inflation has on the overall economy and the devastating impact on retired people or people living on a fixed income.
Or maybe they do? They would rather hang onto their power and control versus working together to reduce the bloated government spending, agency by agency. They all talk about how we must control spending but that is a lie.
Like the weather we will soon be experiencing, our country has now entered a very dark period.
Steve Beiser
Durango
