If I caught these numbers right the budget expenditures are $3.83 trillion. I’m not sure how many zeroes that is but it really doesn’t matter anymore. The important number is that the budget deficit is $1.8 trillion. I’ve listened to this several times this morning so I’m pretty well certain I got that right but it still boggles my mind so if somebody can correct me I’d really appreciate it.
If what I think I hear is true, that’s like one of us making, for easy figuring, $100,000 annually but spending $200,000 annually. How long can that go on? As an individual you could argue that you didn’t really spend all that money – some of it was invested. Maybe you bought a house with some of it for instance – in that case you might be able to justify the imbalance for a year or even a couple of years. If that’s the case our American neighbours better hope they see an awful lot of bridges and overpasses getting built.
2 comments:
As Margaret Thatcher said: "The problem with socialism is that eventually you run out of other people's money [to spend]."
Happy Trails, Penny, TX
Bob, I have a very hard time just saying Triii, Trillll uh Trrr, O, never mind. M&C
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