The insanity continues unabated:

OBAMA BUDGET FREEZES MUCH DOMESTIC SPENDING [ But otherwise spends $3.8 TRILLION !!! ]

WASHINGTON — President Obama will send a $3.8 trillion budget to Congress on Monday for the coming fiscal year that would increase financing for education and for civilian research programs by more than 6 percent and provide $25 billion for cash-starved states, even as he seeks to freeze much domestic spending for the rest of his term.

http://www.nytimes.com/2010/01/31/us/politics/31budget.html?hp

$3.8 Trillion??!!! And just who is planning to buy the bonds to pay for this? Oh yeah, we will through QE, especially if the latest kerfuffle over Taiwan prompts China to cut back.

- TomGa

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