The US must live within it’s means to Preserve the Dollar – Geithner
What planet is this guy living on?
WASHINGTON (Reuters) – The United States must live within its means once its economy recovers if it is to preserve global confidence in the U.S. dollar’s status, Treasury Secretary Timothy Geithner said on Friday.
The comments came as the Obama administration reported a record U.S. budget deficit for the fiscal year ended September of $1.4 trillion. At 10 percent of gross domestic product, it was the biggest U.S. fiscal shortfall since World War Two.
Oddly, Geithner missed the main point… It is not the US that must live within it’s means, it is the US Government that must live within it’s means. Constant borrowing, printing money out of thin air, and out of control spending is the reason for the lack of confidence in the dollar and this is what really should be fixed…
In addition, the reason Americans are drowning in debt and feel like they can’t get ahead is due to the constant debasement of our currency by the Federal Reserve Bank. Sadly, the dollar is now worth only 2% what it did in 1913 when the FED was established by Congress.
The real solution is to end the fuel that keeps this fire (big government) going… End the Federal Reserve Bank, and bring fiscal sanity back to Washington.
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