State of the Union

The market is losing confidence in US Treasury debt. (Via Instapundit.) Hmm, I wonder why. Well, there’s this telling chart from Arthur Laffer:

money-supply-april-2009

(Via Hot Air.) And of course, there’s always this:

obama-deficit

The bond market has good reason to begin worrying that US Treasury debt won’t be paid off, at least not in real money.

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