Wolf Richter www.testosteronepit.com
The members of the congressional panel on deficit reduction are struggling to come up with something that will—I mean, let's be realistic—get them reelected and fill their campaign funds. Even if they come up with a plan that will reduce the gargantuan budget deficits a bit, Congress won't follow through. Reason: it doesn't have to, thanks to the symbiotic relationship between Congress and the Fed.
And please, Media, stop using "debt" reduction
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