How The U.S. National Debt Could Drain Your Savings

Money Morning ^ | 1-11-2011 | David Zeiler

[blam]

"Ron Paul’s budget plan would cut $1 Trillion from the Fed budget in year One. "

Wouldn't the removal of that much 'stimulus' in one year send us into an immediate depression?

[blam]

"Inflation is the only way out of this fiscal mess for our leaders, short of war."

We will probably lollygag around with a number of 'corrective schemes' but, inflation will be the final effective tool, IMO.

[Venturer]

CD’s are paying .10 % inflation is raising 4%.

I have news for you, your savings are already being eaten up.

[blam]

" Courts will support the unions and may make demands for increased spending in other areas such as eduation (see idiotic court decisions in Colorado and Washington state).

It's clear that education needs more money...look what's happening to our school kids.

Dumb As A Rock: You Will Be Absolutely Amazed At The Things That U.S. High School Students Do Not Know

Only a hateful, mean-spirited person would want to harm our children with cuts to education.

[businessprofessor]

“Only a hateful, mean-spirited person would want to harm our children with cuts to education.”

Is this a serious comment? Even if it is serious, what does it have to do with courts ordering more spending? Do you understand the impact of labor cartel contracts on school budgets? Do you understand demands by government labor cartels for early retirement (pension, health care, and rehire after retirement) on school budgets?

[Rich21IE]

Defense cuts.

[Atlas Sneezed]

The even worse news is that even if you’re wise enough to have your savings in the form of inflation-proof tangibles (like gold and silver) you’ll still suffer.

That’s because the feds will still think they’re entitled to taxes on the “gain” you enjoyed when you were really just preserving the value of your savings, and experienced no increase in wealth.

[blam]

"Is this a serious comment? Even if it is serious, what does it have to do with courts ordering more spending? Do you understand the impact of labor cartel contracts on school budgets? Do you understand demands by government labor cartels for early retirement (pension, health care, and rehire after retirement) on school budgets? "

Sorry.

Most people here know me well enough to not mistake the sarcasm.

Parents should take their kids out of the cess-pool public school system...there is zero hope for repair of the system or the kids.

[blam]

"That’s because the feds will still think they’re entitled to taxes on the “gain” you enjoyed when you were really just preserving the value of your savings, and experienced no increase in wealth."

They'd better come with a metal detector and a shovel if they intend to tax the 'gains' on my precious metals.