Obamunism is designed to place a small ruling elite in total control of the American people. The strategy for getting Obamunism in place in America is rooted in a three-pronged approach: (1) using the global warming “emergency” to implement Cap and Trade to control standards of living for the masses; (2) using the financial crisis “emergency” as an excuse to run a deficit so large that the government dominates (through its surrogates) the return on wealth; and… (3) Obamacare, using the health care cost “emergency” as an excuse to appropriate the power to decide which segments of the masses are allowed to live and which must die. Please read Should Government Determine the Value of Human Life?
“The long-term deficit and debt that we have accumulated is unsustainable. We can’t keep on just borrowing from China or borrowing from other countries,” Obama told a town hall meeting event in New Mexico.
“What’s also true is at some point they’re just going to get tired of buying our debt,” he said.
“And when that happens, we will really have to raise interest rates to be able to borrow and that will raise interest rates for everybody.”
The key words here are “when that happens”. So…we can 1. cut spending, 2. raise taxes, 3. monetize the debt, 4. sell the debt to US citizens instead of China, and others. Of course it will be some combination of these 4, but how much will each be emphasized? Swamp Report sees little political appetite for 1 and 2. Option 3 is already being used aggressively. To utilize option 4 to absorb much of the debt, while continuing to use option 3, requires a resurgence of panic.
