Three contractors are bidding to fix a broken fence at the White House: One is from Chicago, another is from Tennessee, and the third is from Minnesota.
All three go with a White House official to examine the fence. The Minnesota contractor takes out a tape measure and does some measuring, then works some figures with a pencil. “Well,” he says, “I figure the job will run about $900: $400 for materials, $400 for my crew and $100 profit for me.”
The Tennessee contractor also does some measuring and figuring, then says,
“I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me.”
The Chicago contractor doesn’t measure or figure, but leans over to the
White House official and whispers, “$2,700.”
The official, incredulous, says, “You didn’t even measure like the other
guys! How did you come up with such a high figure?”
The Chicago contractor whispers back, “$1000 for me, $1000 for you,
and we hire the guy from Tennessee to fix the fence.”
“Done!” replies the government official.
That was the humorous part. Unfortunately the next part is not so funny:
Now multiply those figures by 1 billion and you will begin to get the picture. But don’t worry, those aren’t tax dollars — those are newly printed (borrowed) dollars, and so that’s a debt that our children will have to worry about… and their children… and their children….
“How is that supposed to stimulate the economy?” you might ask.
Well, the crooked politician will spend his $1,000, and the crooked contractor will spend his $1,000 (and remember to multiply that by 1 billion) and the increased money in the system will eventually trickle down to us. What we don’t spend we will invest, and that is supposed to get our economy going again.
But there is only one little (little?!) problem with all this:
By the time the money gets to us, because of this additional money printing, inflation will eat up our portion — and any other paper money that we might have — and so then we can look forward to phase two of the stimulus plan (or would that be phase three?)
But don’t worry! The White House also needs a new coat of paint!
How long can they keep this up? Long enough for the politicians to retire. And don’t forget, they didn’t pay money into the Social Security plan. They have set up their own retirement accounts — the only ones which they have not pillaged! So their retirement is secure, that is, as long as they don’t forget to build HUGE fences around their retirement homes!
The Revolution is Coming!
Got Silver? It’s real money, and the Fed can’t print more of it!