What If They Held a Fed Bond Auction and Nobody Came???

A few choice selections from Mark Steyn's latest.
". . .according to USA Today, when the economic downturn began, the U.S. Department of Transportation had just one employee making over $170,000. A year and a half later, it has 1,690.

"Happy days are here again!

"Did you get your pay raise this year? What’s that, you don’t work for the government? Yes, you do, one way or another. Good luck relying on Obama, Pelosi, Frank, and the other Emirs of Kleptocristan “taking action” to “resolve” that. In the last month, the cost of insuring Greece’s sovereign debt against default has doubled. Spain and Portugal are headed the same way. When you binge-spend at the Greek level in a democratic state, there aren’t many easy roads back. The government has introduced an austerity package to rein in spending. In response, Greek tax collectors have walked off the job.

"Read that again slowly: To protest government cuts, striking tax collectors are refusing to collect taxes. In a sane world, this would be a hilarious TV comedy sketch. But most of the Western world is no longer sane. It’s tough enough to persuade the town drunk to sober up, but when everyone’s face down in the moonshine, maybe it’s best just to head for the hills."
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"And where’s the president getting all this money to “pour” into his “fight” against high unemployment? Would it perchance be from the same small businesses that might be hiring new workers if the president didn’t need so much money to “pour” away? Heigh-ho. Maybe we can all be striking tax collectors. It seems a comfortable life . . . "
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"It’s not the “debt” or the “deficit,” it’s the spending. And the only way to reduce that is with fewer government agencies, fewer government programs, fewer government employees, lower government salaries.

"Instead, all four are rocketing up: We are incentivizing unsustainability, and, when it comes to “some collapse down the road,” you’ll be surprised how short that road is."