With regard to the debt limit debate: this is my biggest fear -- another $4 trillion bill that no one reads.
The president has proposed a grand $4 trillion debt reduction bill. He has promised to reduce the nation's debt by $4 trillion over the next ten years, in exchange for "just a little increased spending" in other areas (undefined, for the most part, but probably include eduction, job training, police and fire, homeland security, and renewable energy).
My concern is that the bill has been already written by the White House, it will be passed in the dead of night, no one will have read it, and the $4 trillion debt reduction is "smoke and mirrors," and the "just a little bit of increased spending" is another huge spending spree that will peak going into the 2012 elections, to help incumbents (in both parties) keep their seats.
Again, to the best of my knowledge this does not have anything to do with the Bakken. It is labeled as such so folks interested only in the Bakken can quickly skip this post.
ReplyDeleteI am contractually bound that not less than 10 percent of all posts on this site must be about something other than the Bakken.
I was allowed to keep the tag line ("All Bakken All The Time") despite this arrangement.
Bruce,
ReplyDeleteI, for one, have enjoyed your posts on all the Bakken (of which I have a vested interest in) and your post's on the economy as a whole (of which we all have a vested interest).
It may be simplistic, but the more information you have, the more informed you can be.
Thanks again and keep 'em coming
Thank you for your kind comments. My comment above, was, of course, written with tongue in cheek, but it was posted after someone used unkind language to complain about my non-Bakken posts (the comment did not add anything to the discussion, so I did not post it).
ReplyDeleteHaving said that, the non-Bakken posts run the risk of detracting from the main purpose of the blog, but I find that folks comment on these posts more often than not.
Despite all that I write about the economy and politics, I am very optimistic long term as an investor. I am fortunate enough to be able to think and invest long term. I realize not all folks have that luxury.