Thank you for the marvelous graphs and statistics visually demonstrating that the debt crisis is a farce.
I don't know why I think back to Winston Churchill. But I remember him saying, "There are three kinds of lies, outright lies, damn lies, and statistics." I do thank you for the statistics.
It gives me pause when I listen to David Walker, the nation's comptroller general, and he says "The United States can be likened to Rome before the fall of the empire. Its financial condition is worse than advertised," [Walker] says. "It has a broken business model. It faces deficits in its budgets, its balance of payments, its savings - and its leadership." And I can certainly see this validated by my personal experience.
I read that we go into debt $ 80. million every hour of every day and will owe foreigners $ 8. Trillion by 2008. Since I realize that will amount to 60% of our GDP, it would upset me if you hadn't shown me there is no debt crisis. When $6. our every $10. we earn will have to go to pay off a loan in China, Japan or South Korea I needent be conserned. Tom tells us that is growing the economy, and you are showing us that concern is a "Farce."
The Levy Institute says that the present debt level is a staggering $ 24,000. for every man, woman, and child in America. But, hey---not to worry that's a farce. Those people who look at the Bush Administration,(like the comptroller general) and watch government irresponsibility bleed over to society don't realize there is no problem.
The mantra of the Bush government has been: "MID", militarism, inflation, and debt. Mr. Bush would hope to convince you that the "debt crisis" is a farce, and certainly wants you to agree also. Especially as you watch a drop in housing prices remove the only form of savings the typical family has, domestic saving accounts and capital investments hit an all time historic low, and consumer confidence slowly drop.
There was a song in the Broadway show, "L'il Abner" that you would like. It was called "The Country's in The Very Best of Hands." I think Dilbert did a great job on you graphs.
Publius
Current Events » in reply to The "Debt Crisis" Farce
I'm relieved to see we have no problems........
