Well, I Feel Better Now….

 

….because Timmy said it would be OK.  Sometimes, I think these clowns that we have in office don’t know basic math.  Apparently, we can grow the national debt to insane levels while revenue drops and, if you believe our Treasury Secretary, it won’t change our credit rating.  Even though the people who create credit ratings said it would.

Look at this, and weep:

 

That was as of 10:20 AM EST, Feb. 7, 2010.  Go here to get an update; it’s changing really fast.  You may need a welder’s mask to protect you from all the red ink you will see on that page.

I understand the allure and the principle for a government to borrow money.  Like any other organization, it is a way to leverage your way into spending money on things that you would not otherwise be able to afford.  Sort of like sub-prime mortgages.  And governments, particularly the US government, can borrow money so cheaply that it is like crack cocaine for a self-aggrandizing egomaniac.  Why pay for something today when you can borrow the money and pay it out over time with inflated dollars?  Because it results in the image you see above. 

There are things that a person should borrow money for and it’s a short list; to buy a home and to get an education.  It’s not a good idea, but most of us borrow money to get a car.  That’s it; those are the only loans a person should have.   A government doesn’t need a house and you clearly cannot educate a government; Lord knows we have all tried.  Instead, the federal government has a clearly laid out set of items it should provide and they can be found in the Constitution; the defense of the country, facilitating interstate commerce, the judicial system and so on.  Most of what we pay for is not mentioned in the Constitution.  The Left likes to use the “promote the general welfare” phrase from the Constitution to justify whatever it is that they are freaking out about at any given moment, ignoring the fact that having, say, Social Security doesn’t really improve the general welfare.  It improves the welfare of those who are eligible for it, at the expense of those who must pay for it.  See here for more ideas on what parts of government need to be reduced or eliminated.

My 1 year old nephew owes over $40,000 right now and he still craps his diapers.  By the time he turns 18, at the rate this mess is going, that number will be far into the 6-digit range, maybe even 7 digits.  He will never catch up.  WE will never catch up.