Democrats plan nearly $2 trillion debt limit hike

Forget whether you're Democrat or Republican. You're American. This is an incredibly bad Idea for our country.

http://apnews.myway.com/article/20091211/D9CHCOIG0.html

As I spoke of in an earlier post, printing up this kind of unbacked money will not only make other countries very angry but will crash our dollar when we cannot pay the debt.

Suppose for a moment you are a country like China. You lent the USA a few Billion bucks. They pay interest to you but suddenly they begin printing so much money and there is not nearly enough Gold in the USA to back it. The world catches on and the value of the dollar begins to drop. USA prints more money and pays their payments but the value of the dollar is now only worth 80% of when they borrowed the money. You have just lost 20% on the interest payments on billions. Now, by printing that money the USA knows the value of the dollar will drop more, but what choice do they have? Its either that or default on their loans. So.. they print more.. now the dollar is worth only half and the payments on loans are cut by half. Would you be ticked off? I think so.

America could consider cutting way back on everything. Living more simply, encourage manufacturing here at home etc.Cut way back on government. But.. I dont see that happening. I see more money being printed. How bout You?