economic reality

Today the Federal Reserve set the stage for “beginning to normalize the stance of monetary policy” in 2015. Rates have been held at near 0 since 2008, I truly believe that this rate may be raised briefly but will never get close to¬†past levels. The debt that the US has cannot afford for rates to raise, we would have to borrow more money to pay for the interest.

Right before the Thanksgiving day holiday, congress had to pass a 1.1 trillion dollar emergency bill to keep the government from shutting down. This is not the first time, we continue to service our obligations by printing more money or paying for debt with more debt.

Can someone please explain to me how a regular person with 10 maxed out credit cards, who has to borrow more money or open a new credit line, just to pay the interest on their already maxed out credit lines is any different then what the US government is currently doing? This is exactly what our government is doing now but at a level that is completely unimaginable…

I fear for the years ahead…

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