why gold mining investment now? copied
Fellow Resource Prospector,
The Federal Government is even more clueless than I previously suspected.
I’m speaking specifically about a White House commission’s Federal Deficit Reduction plan.
Surprisingly, the White House released this plan earlier this week.
I say “surprisingly” because the plan is so weak, so obviously ineffective - that anyone with the intellectual capacity to know how to read should be completely outraged at this plan.
They should have never let this plan see the light of day.
The Wall Street Journal outlined the underlying problem implicit to this plan:
“Overall, the plan would hold down the growth of the federal debt by roughly $3.8 trillion by 2020, or about half of the $7.7 trillion by which the debt would have otherwise grown by that year, according to commission staff. The current national debt is about $13.7 trillion.”
In other words, the plan to reduce the deficit does not reduce the deficit. It just reduces the amount the deficit would have grown.
Instead of $20.4 trillion, the deficit will be $16.5 trillion, according to government estimates.
