What if on tax day 2011, as many people as possible legally filed for an extension? How long could a government spend like this with no cash flow?
There was a time when this might have worked. That was when the government needed out tax dollars to do the things they wanted to do.
That time is passed. They spend without regard to whether or not they have the money.Just looks at Il Douche's tens of trillions of debt we're incurring. How do they do that? By monetizing the debt. They'll print more IOUs (not money,but T-bills) and simply increase the debt. The'Rats don't care about ever repaying it. That's for the little folk to worry about, the honest people (like us). The beast will only starve when people who are buying our instruments of debt believe that they aren't worth the paper they are printed on. Then the beast will stave, and we'll all be ruined.
Check the last debt sale - there was a RECORD lack of interest in US debt vehicles.
We are already close to the end. Let’s hold a death panel for this beast and pull the plug.