Apparently President Obama thinks he has an open pipeline to the federal treasury. When is he going to discover that the “treasury” is empty? Really empty! Not to worry, fellow taxpayers — he has the ultimate solution to all the problems of this recession. It is simply this: Print more money.
Naturally it won’t be backed by anything and will represent one of the most brutal forms of taxation, but it may serve to ameliorate, at least temporarily, the misery of those who have lost their jobs and those who, almost daily, watch their retirement plans go down the drain.
Those who will pay for this are well known. That would include ourselves, our children, grandchildren and yes, all of those who have their hands outstretched for a piece of the government pie. Of course the latter group probably doesn’t even care.
Indeed something needs to be done — and soon. A good starting point would be to restore the words “accountability” and “oversight” to the federal lexicon.
Charles M. Henderson