Saturday, February 14, 2009

Woo hoo!!!!

We've done it!

Federal obligations exceed world GDP
Does $65.5 trillion terrify anyone yet?

(Read the whole thing. Go one, take some time & follow the link.)

We are now so broke that the entire world's economic output won't be able to pull us out of the fire! Hot damn! Also note that the obligations mentioned in the story linked above only include those of the federal government. State and local governments, not to mention the debt of companies and individuals, have their own obligations (i.e., debt). God Bless America!

Playing in the background is a CBS News report that what happened to the Japanese economy is that they didn't spend enough money to get out of their recession, and that they actually paid their bills. In other words, our media is encouraging us to acquire even more debt!

Fortunately we have a whole new fun game to occupy our minds....

No comments: