The compromise plan that's being bandied around won't reduce the debt by one red cent. In fact, it will add to it. The plan is to cut the
deficit; that is, to
lesson how much the federal government overspends. The beast must be starved. The federal government must live within its means and stop pulling money out of the private sector to buy votes via entitlements. I don't agree with everything Ron Paul says. Far from it. But he's spot on here:
Speaking of printing money backed by no real wealth:
Sen. Coburn: Worst Tax Comes From Government Printing Money "The worst tax increase in the world is the one that comes through government printing money. Inflating greater than what you can earn on your assets and then diminishing the value of your assets by taking it from you."