Wednesday, November 18, 2009
Not a Complete Picture
We've got a new textbook for American National Gov't this term and in the materials for the chapter on economic policy we've got some data. That curve is pretty impressive to the students. But it, unfortunately doesn't reflect the reality of the situation since the new administration took office.
That outrageously steep curve shows the climb to 5.5 trillion dollars. In the last year the line has gone literally off of the chart. I quoted to my class yesterday that the current level is $10.4 trillion. But, that was yesterday.
This morning's figure on national debt direct from the Treasury is here:
Past $12,000,000,000,000.00 and climbing
Of course, the President is ready to act as he warns us about the dangers of too much debt:
This Could Be a Problem
But, we recognize that in the long run the sheeple of the United States won't love him if he doesn't fill their stocking with Christmas goodies. His success is about giving, not taking. His philosophy is about having not wanting. His belief is about equality not reality.
Does anybody think he is going to do anything at all to cut spending, reduce the deficit and nibble away at that awesome debt?