A Clearer Perspective

“The budget should be balanced; the treasury should be refilled; public debt should be reduced; and the arrogance of public officials should be controlled.” -Cicero. 106-43 B.C.

The saying goes that nothing is certain except death and taxes. In America, it seems nothing is certain except debt and taxes.

Our country is the victim of one of the biggest con games every committed, an epidemic spreading so fast that the chief auditor of the United States calls it a “fiscal cancer.” And it’s a disease that only now – with an economy on the brink of a recession, mounting inflation, rising unemployment, and a devalued dollar – is causing sufficient alarm.

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The Fed worked overnight this weekend to exactly what it’s not supposed to do: get its hands dirty to bail out the private sector.The New York Times reported yesterday that in hopes of avoiding a “systemic meltdown in financial markets” the Fed had swooped in to offer a $30 billion credit line to “engineer the takeover” of firm Bear Stearns and at the same time announced an open-ended (so no limits on the amount) lending program for Wall Street’s biggest investment firms.

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