Wednesday, April 15, 2009

The sad state of...

It almost seems that people are starting to realize what's happened, but still aren't accepting it. The money's gone. We have a an unbelievably large debt. We're about to go into an inflationary period. So, the paradox of savings is upon us. We need to spend less, which means the GDP shrinks. Good- it was based on leveraged consumerism. I like to think of the shrinkage as a return to realism.

Orszag says the budget shrinks the deficit by half over 4 years, but John Stewart fails to call him on it, just pretends not to get it. That was painful to watch. All of the planned budgets have deficits, which means the total amount borrowed continues to increase. We're still making it worse.

I really didn't mind paying taxes this year. I wish I made more money so we could pay this debt down faster. But then, these guys want to spend more and more and more. Maybe everyone should pay taxes. Maybe they need to make more things to sell to China...that's where the money is.

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