Time to take the trash out in Washington?

[LUHiWY]

http://www.frontlinethoughts.com/printarticle.asp?id=mwo090806


"A Warning for Politicians

Finally, Fisher referred to the national debt and growing social security and Medicare obligations. It is not the Fed's problem, and he flatly asserted they will not monetize the debt in the future. This is a political problem. Congress is going to have to get its own house in order. The Fed will not bring back inflation to accommodate a profligate Congress. He did not have kind words for the lack of spending control in Washington.

There is a probable push of debt coming to a shove of Fed willingness to force Congressional action in our future. Interestingly, the same events are effectively going to be happening in Europe a few years before our problems really kick in. We will get to see what works, or more likely, what doesn't."