Saturday, February 14, 2009

Federal Deficit exceeds world Gross Domestic Product

Yes, you read that right. The total Deficit of the Federal Government now exceeds the entire earned money of every single person in the world. Hello? Who is dumb enough to extend credit to us when we already owe more money than has ever been made by the entire world? 

OK, you've followed the link, and you've read the article. You now understand that if the Government used the same accounting rules and regulations that every company in the nation has to use, they would be locked up for life. However the old joke seems to apply. It's my ball, my bat, and my rules. At least, that seems to be what Washington DC is telling us. 

So how do we get out of this? I don't think we can. I think, like Rome, the Weimar Republic, even the Soviet Union, we may be beyond rescue.

When a person spends more than they earn, they are called irresponsible. When a corporation does it, it's called the same thing. The end result is Bankruptcy for the entities involved. When a nation does it, it's called creative accounting. You can't just print and spend money, history clearly shows what happens. The term, economic collapse comes to mind. 

So what should we be doing right now? Funding ACORN and pushing Abortions of course, the Liberal idea of Stimulus. 

You can call it creative, but I think I know what History will call it. At least, I know what History called the previous examples of this kind of behavior. 


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