A spending freeze? Let's look at reality!

You know - I like to wake up to that hot cup of coffee reality. Chuck Butler of Everbank did it for me again today. Here's what he said in his review of foreign currencies and the gold and silver market in his Daily Pfennig:

"

You know... I did some more research into the President's proposed "spending freeze", which I believe is nothing more than rearranging of the deck chairs on the Titanic... They've increased their deficit spending by such a large percentage in the past year, that "freezing" it here, doesn't account for a hill of beans! Defense, Medicare, and Social Security aren't a part of the "freeze"... And they are the 3 biggest hits to the budget! So... In the end... This "freeze" accounts for about $250 Billion over 10 years... That's chump change folks...

Over that same period, some $9 Trillion is expected to be added to the government's debt pile. Which is to say the "freeze" will reduce the total deficit spending anticipated over the next decade by some 0.027%.

Don't get me wrong here, I'm glad it won't keep going higher... But, it certainly isn't getting "cut"... And that's what we need to hear, not all this sex, lies and videotape about a "spending freeze"!"

Ha! Tell it like it is Chuck! He also added today that he feels both gold and silver are on a blue light special! Remember that annual gold production is falling - it's all about supply and demand!