From a viewpoint written by Sen. Jim DeMint, R-SC, and published by the Republican Joint Economic Committee:
“Just as Greece enjoyed years of low interest rate loans to finance their debt due to the backing of the Euro’s good name, the United States is today enjoying a time of artificially low interest rates as a result of loose monetary policies from the Federal Reserve and global markets’ assessment of the United States as a relative safe haven. The era of cheap borrowing for the United States will eventually end, and the longer Congress waits to enact serious fiscal reforms, the more painful that day will be.”
When U.S. interest rates start rising, that’s when the deck of cards starts collapsing. It doesn’t matter who’s running the country. The only question remaining is how long we can stave off the inevitable. Boomergeddon cometh.
— JAB
