This is a day that will forever live in infamy. Today is the day that B. Hussein Obama came out of the closet and began to monetize the debt in earnest.
Monetizing the debt is an economic term for shell game. It isn’t like a ponzi scheme, that would be Social Security, it is different and more dangerous. When a consumer monetizes their debt, they pay off the balance of one credit card with another card and use the lower balance card to cover other debt, until the card is maxed out. But, it doesn’t end there. They begin to create more money through the use of payday loans, and every payday they fall further behind, until they can no longer borrow or pay on their debt. This is when families file bankruptcy. But, the federal government does this a little differently, because they have something most of us do not have, a printing press.
