Friday, April 24, 2009

As a country, we're broke

At least we will be on Sunday:

Debt Day comes early this year. Unfortunately, it's nothing to celebrate.

The symbolic "holiday," which falls on Sunday, marks the point in the fiscal year when government spending exceeds revenue.

In other words, the government will stop making money and start borrowing on Sunday.


Now, the sad part about this is not only how early it comes, but the fact that it comes at all. How did we get from...

I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale. (Thomas Jefferson to John Taylor, 1816)

to



Sir, can you spare any Change?

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