![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5DR3rmwUGExNseSBpuiSGiWhAR_RLZVtSTjdY_Bm9J6JNr0-2gV9WtO6kobmEgqO3aHxcNNHyaGMgpXKop7sQR9hXLvON6HnGMy5Awl6T1MBD4LZK6nYZiE2Z0UG6_o2tR1houQ/s400/money-printing-press.jpg)
You know how people, e.g. my landlord, bought homes with no money down, secured variable or interest-only financing....and then took out HELOCs to pay the mortgage?
It certainly worked, albeit for a fraction of the life of the debt.
Well, the Obama Administration is trying the same sleight-o-hand:
WASHINGTON — The Obama administration, under pressure to show it is serious about tackling the budget deficit, is seizing on an unusual target to showcase fiscal responsibility: the $700 billion financial rescue.
The administration wants to keep some of the unspent funds available for emergencies, but is considering setting aside a chunk for debt reduction, according to people familiar with the matter.
Creating/printing money out of thin air....and then using that make-believe currency to reduce how much was created out of thin air???
Abracadraba,...
1 comment:
This Obamanomics Plan is utterly fool-proof. Nothing can go wrong with this. Keep moving, nothing to see here.
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