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In light of the proposed $1.65 trillion deficit in a $3.73 trillion budget, the only rational reaction has to be a rush to gold and silver investments.

February 14, 2011 – In light of the proposed $1.65 trillion deficit in a $3.73 trillion budget, the only rational reaction has to be a rush to gold and silver investments. It’s like the politicians haven’t learned a thing.

The administration still believes it can spend its way out of this mess, borrowing to pay on its long-term debt. There is absolutely no difference between that and paying the mortgage with a credit card. On both sides of the aisle they are playing on voter emotions with proposals to blindly slash everything and anything – except, of course, for pet projects such as fighter planes that the military doesn’t even want. The campaign for reelection never loses steam and voter appeasement will trump fiscal responsibility every time.

One of the more frightening proposals involves deep cuts in state funding. On the surface that sounds good to voters who are sick of bailouts of any kind. But with states already stretched beyond their ability to pay their way, the domino effect of such cuts would be devastating as infrastructure in desperate need of repair would be left to crumble. Dams could fail and the lights could go out for months and even years. Bridges could fall, cutting vital links to our most important cities. It would take very little to put into motion our rapid and irreversible decline to third world status.

Those are not the ravings of a maniac. They are very real scenarios if the underlying problems are not addressed. That is the essence of fiscal responsibility: begin with funding everything vital to our survival and cutting everything that is not. I believe that Americans are smart enough and strong enough to take it if only we are given the cold hard truth.

We also know when we are being treated as fools, and that sends us to the security of gold and silver investments.

Shannon King

Senior Staff Writer – GoldSilver.org

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