“I don’t take advice from Mormons anymore and particularly, nuts like Glen Beck.”
Sadly, he’s right. There is no force in DC today to bring spending under control. Who is going to cut Social Security, Medicaid and Medicare? Who is going to cut federal pensions? Welfare?
And, that leaves military spending which Obama already shamefully neglected to pump up Medicaid and payoffs to his public union supporters and government dependent supporters.
So we have to spend on the military but cannot cut anything else. Obama’s legacy is we are trapped in a deficit we have no political will to do anything about.
The only hope is sustained growth at a high rate and that interest rates don’t go through the roof. If they do, all bets are off—tax revenues plunge and interest service skyrockets. That’s Obama’s other legacy, we should be raising interest rates but to do so will be disastrous. So we cannot.
Oh he is correct but next week Beck will change his mind.
He is in so much financial trouble right now that he is frankly irrelevant.
People tried to tell him NOT to invest in Blaze.com and this is where his train went off the rails.