There’s an expression: Kicking the can down the road; defined in-use:
If you kick the can down the road,
you delay a decision in hopes that the problem or issue will go away
or somebody else will make the decision later.
Few things more beautifully exemplify the
application of this phrase than its applicability to government
finances.
THE STARK FACTS
From the website US
Debt Clock, we’re pushing $20 Trillion in debt. Think
about that for a second. Put it in scale: a million is a one with
six zeros after it (106); a billion has nine
zeroes (109)… a trillion, twelve zeroes
(1012). This is just the US government’s debt;
not states, not cities, just the feds. And are there any world
governments not in debt, and with aggregate amounts that likely dwarf
the amount of wealth in the world? Consider this report: Global
debt reaches US$ 217 trillion.
More @ Obamasez
A little stagflation builds character.
ReplyDeleteWe'll wake-up afterwards to discover China and India have much of the world's productive capital. Oops, the trade protectionists were right after all :p But, maybe we'll rebuild.
:)
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