'Obamaflation' is on its way
11/11/2012 6:10 PM
11/11/2012 6:11 PM
A new term will soon enter the American lexicon — the 29ers. It will represent those whose work hours have been reduced to 29 per week so that the employer will not have to meet the requirements of Obamacare. The effect on the economy will be devastating.
The dysfunctional status quo was re-elected and Obamacare with it. There wasn't a major shift right or left. The American public decided to keep in power all the main characters who have created the dysfunction. Of course a major seismic event is coming that will alter that equation. A nation cannot pile up an unending debt without a severe consequence to the general economy.
That consequence will be named after whomever is unlucky enough to be president at the time. Enraged, the shallow electorate will stream to the opposite side.
No matter when it arrives, it should correctly be called Obamaflation. For inflation to happen it requires no political consensus, no agreement among parties, no political will whatsoever. It's the easiest way to reduce the national debt. That is the real tax for Obamacare and all the other programs that are near and dear to the American heart.
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