| | Charles krauthammer says, "Obama knows that the debt bomb is looming, that Moody's is warning that the Treasury's AAA rating is in jeopardy, that we are headed for a run on the dollar and/or hyperinflation if nothing is done. Hence his deficit reduction commission. It will report (surprise!) after the November elections. What will it recommend?"
Would a VAT be bad thing? We know that it would. Without massive increases in tax revues, is this level of spending sustainable? We know that it is not. Is it reasonable to believe that Obama doesn't know that our current system cannot withstand spending at this level or a massive increase in taxation? I don't believe it.
Then aren't we looking at it being more likely than not that Obama intends to crash the entire system... presumably to use the crisis for purposes of transformation?
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