Kudlow's Money Politic$ - National Review Online

Kudlow's Money Politic$ - National Review Online:

The day after President Obama’s State of the Union, Congress went ahead and passed a $1.9 trillion — that’s right, $1.9 trillion — increase in the federal government’s debt limit. Let me tell you why this bothers me.

First, in order to avoid bankruptcy, it means future tax rates are going to have to go up. Second, Mr. Bernanke bought a lot of our debt in 2009. That brought down the dollar and hiked the gold price. So, has Washington set us up for major inflation in the years ahead?"