Talk:Omnibus Budget Reconciliation Act of 1993
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[edit] Interesing theory
That's the first theory I heard of that connects the federal budget deficit to higher interest rates and inflation. It seems perfectly logical in a common sense manner, but I am not an economics major and therefore cannot confirm nor deny the factual accuracy of this theory. However, if you look at the present economic situation (2006) we have a huge federal budget deficit, high interest rates, and consumer goods have seemingly doubled in price (based on what I've seen at grocery stores; for example, the price of milk has almost doubled in the past three years: $1.50 to $2.70 at bashas and Albertsons). This is despite the government claiming that inflation has been around 3% a year since 2000. Nevertheless, alot of economists on TV and print attribute the rise to higher oil prices resulting from the middle east conflicts. Anyhow, I can only describe my situation, and currently, I have to spend around $400.00 a month for food and drink (higher if I eat out), and that's buying bulk at Costco Wholesale! I remember the time, not more than 3 years ago, when I could buy a month's worth of food for $250.00. 3% inflation a year? Bullshit! I hate debt, because it drives up my monthly cost of living (due to interest payments). From a common-sense perspective, I can't see how the government debt can't do the same for our economy. The economic path our government(s) is taking is unsustainable, and I wonder what pains will befall all of us when this path ends. —The preceding unsigned comment was added by 71.211.88.195 (talk • contribs). on 23 July 2006.
