Loading ...No-one Cares…
“No one really cares about the U.S. federal debt,” remarked a colleague and Economic Prism reader earlier in the week. “You keep writing about it as if anyone gives a lick.”
We could tell he was just warming up. So, we settled back into our chair and made ourselves comfortable.
“Still, if the speed of light example doesn’t do it for you, how about the speed of sound? When Chuck Yeager first outran sound he reached what was called Mach 1. That equals 767 miles per hour – or 1,125 feet per second. So, at $34,880 of new debt per second, the federal government is running up the debt at a speed that’s over Mach 30. Yes, things have really gotten out of control!
Mach 2 jet nozzle flow visualized with Schlieren filters. Observe, then close your eyes and imagine it going 15 times faster. That’s the speed at which the federal debt currently grows. What can possibly go wrong? [PT]
To Hell In A Bucket
“You’d think that running up a tab at a rate like that would be a lot of fun. But look around. No one, including the upper crust, is having fun. Take that Facebook geek, for example. Zuckerberg! Have you seen the mug on that kid? He wouldn’t know what fun is, if it jumped up and bit him on the behind.
“How much longer this government debt binge can go on for is anyone’s guess. One thing is clear, however. It has gone on much longer than any honest person could possibly fathom.
“Under George Dubya the federal debt doubled from $5 trillion to $10 trillion. Then under Barry Big Ears the federal debt doubled again to $20 trillion. There are predictions floating around that The Donald will again double the federal debt, taking us to $40 trillion. If he and Chuckles Schumer succeed in obliterating the debt ceiling, he just may pull it off