Wednesday, January 12, 2011
House GOP readies push for balanced budget amendment
Here it comes...the Doomsday Amendment!
They tried this in 1995 and it missed by a single vote. This time it's likely to go through because of the rampant, deficit reduction dogma that has gripped the electorate. A lot of newly-elected, deficit hating "true believers" now reside in Congress and my guess is, they're gonna make this happen.
This amendment will cause an explosion in poverty in the United States like nothing we've ever seen before. With the quantity of money essentially fixed (same concept as a gold standard), growth will stagnate for good and the gap between rich and poor will surge. The streets will become a dangerous place.
The lawmakers who are pushing this, along with most of the electorate, are deeply ignorant when it comes to this subject. But that's not stopping them...they're moving forward with a zeal that looks shockingly similar to some type of religious fanaticism. Fundamental extremism, like Muslim terrorists. Only, they are the Deficit Terrorists.