I know that I am not a rocket scientist or a Rhodes Scholar or a brain surgeon. I am not a politician nor an economist. Simply, I realize there are a whole lot of people who are a great deal more knowledgeable than me. Nevertheless, I have always believed that common sense is often more valuable than knowledge. On that basis I put forth this opinion. I am copying something that I said to a relative in a recent e-mail:
What I think is the worst of all this is - the government is planning on creating jobs. So how will they pay the wages? And how will they pay for all the other things they are now planning for? (Trillions of dollars worth.) They will have to borrow the money from somewhere, someone, some country. Probably more than one country. As a young adult I never wanted to borrow money from my parents because I knew it would come with strings attached - if I wasn't responsible enough to pay my bills and asked them to help, then it gave them the right to tell me how to do things. It will be the same with borrowing from other countries - our need for their money will give them the right to tell us how to do things differently. I have no doubt that day is coming, though I do not know when or from what country. Be prepared! Life is going to change for everyone in this country.
Five minutes ago I watched an economist on Fox News discussing something that just came out from the leader of China. (The Premier?) They are heavily invested in our Treasury Market, meaning they are lending us the money for all of the glorious Obama programs. Turns out they are beginning to seek input into our domestic policy because they are worried about their investments. I am absolutely certain this is just the beginning. They, by their investment in our country, have earned the right to begin dictating how we do things.
No, I am not an economist, but I do not believe I am stupid. This is just a matter of common sense in my opinion, and I saw it coming.