(Via the Drudge Report)
Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten to choke off economic growth.
Nice of “Helecopter Ben” to finally show up. Too bad that all the champagne and caviar is gone. So is the beer and pretzels. No, the carbonated beverages and party mix is gone as well.
Can we interest you in some bread and water as we turn out the lights and go to bed?
For decades, the United States (and the rest of the world as well) has lived far beyond its means. The bill for that extravagant lifestyle is now due. The sad thing is that the people who run it up aren’t going to be the ones paying for it, by and large. It’s going to be their grandchildren who will foot the real bill for this party, with decades of reduced lifestyles and opportunities.
Let’s remember to take out the party trash in November–vote ’em all out. Let’s get back to a true market economy so we can work this out as quickly as possible.