07/23/10 Alexandria, Virgina — Uncle Sam’s talking the talk, but not walking the walk when it comes to the blackhole of debt. It’s not just the highest level of government… the nation is overwhelmed by debtors at the household, municipal, and state levels, as well. Following the federal example, we assume.
Perhaps Congress will eventually step up to the plate, to cut back on spending and develop a tax plan more in line with the nation’s actual fiscal health. If not, maybe this is a pair of kids we are best selling off.
This David Fitzsimmons cartoon came to our attention via his Arizona Daily Star post on the United States of Debt.
Rocky Vega
Rocky Vega is publisher of The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
Obama bin laden is a criminal. We need to see his head on a stake out in front of the White House as a lesson to the rest of them. Now is the time for violent revolution.
I rather see it as United States of Screw-Foreigner Inflation.
Debt has never been a problem in the US. First you pile ‘em up. Then you inflate the currency to wipe out the debt. Screwing foreign holders of untold trillions of the reserve currency as you do so. But the foreigners dare not say a word. Because the dollar is backed by, yes, the military-industrial complex. Like, when any foreigners dare trying to move away from the dollar which is dropping in value by the month, the US will back it up with one of its finest carrier battle group. Just send one of these over close to the border of the offending nation and watch shock-and-awe in action.
I say one carrier battle group is enough to back up $1 trillion of debt. US now operates 12 battle group, which just happen to match $12 trillion of debt!
This is strategic planning of the finest minds. So what’s the problem?
America sure is lucky that China does not know how to build expendable war toys.
lol