Friday, January 13, 2012

Accounting Quirks?

I cannot for the life of me figure out why anyone believes anything that comes out of Washington DC.

Consider for a moment this article.

They are telling us that we will be holding our budget deficit under a trillion.

Yet Obama is asking for, and the congress will approve a 1.2 trillion dollar debt ceiling increase that is supposed to tide us over until after the election.

How does that hang together?

The core of the matter is we are broke and getting broker.  We will be trailing the rest of the world down the path of budget slashes and huge "austerities" any year now.  Just has to be that way.

There is a vocal minority out there that feels that taxing the rich will solve the problems.  Hell, even if we took all the rich folks money and killed them (read here proscriptions) there wouldn't be enough to pay off the debt.  Though it would amuse me.

There is another vocal minority that says just kick all the freeloaders (read here, fellow citizens) off the dole and let them starve and you will pay off the debt.  Naw..that dog won't hunt either.

We have been living large for too long.  All of us, even the poor folk have been steps above the norm of the world for so long that we now consider it our due.  It ain't

The recalibration is going to get messy, and lots of folks are going to be pretty pissed when their cherished American Dream goes up in smoke.

1 comment:

russell1200 said...

What is really scary is that it has been private debt that has actually gotten the most out of control in the last decade.