Paper Money

With Obama's announcement of a $3.55 trillion budget, which includes hundreds of billions for even more bailout projects, it seems to me that the connection between dollars and anything (be it gold, products, or even fiat) is broken. We're throwing monopoly money around now, with no end in sight. Obama's promise to reduce the budget deficit by half come 2013 is laughable at this point. Never mind that reducing the budget deficit he inherited by half still leaves us at deficit levels beyond Bush's wildest dreams. With all the money Obama and his Congress are throwing around, it doesn't seem possible that he'll meet that goal. With all the money they're throwing around, it doesn't seem possible that they're seriously intending to meet that goal. They seem to think the money will continue to be there forever, that the golden goose can keep laying eggs indefinitely.

Well, it can't. Soon this is going to catch up to us, and then we're going to be in serious trouble.

There has to come a time when our elected officials throw up their hands and say, "I'm sorry, but there's no more money we can spend. It just isn't there." That they haven't done so by now tells me that they're all out of touch with reality.

Our money is paper money at this point in time. It only exists in wishes and dreams.