Your Future

A few weeks ago the debt passed 21 TRILLION DOLLARS, but I was out to lunch with the rest of America.  Pollsters say that hardly anybody cares about the debt any more.  Deficits stimulate the economy, right?  Doesn’t that mean jobs? Ummm, that sort of “stimulus” is a dubious way to try … [read more]

An Irresistible Force

In the upper left corner of this page you’ll see a pretty little girl wearing a sign saying that she’s $38,375 in debt.  That number is now $57,764, if you’re willing to use the Enron accounting standards of the federal government, which don’t acknowledge that she’s carrying liability for Social Security promises that we can’t pay.  Medicare is actually much worse, but this year the Social Security Administration is sending out benefit statements—estimates of how much you’ll get per month when you retire—that say: … [read more]

Debt Is Rising All ‘Round The World

Populism sounds like such a friendly and democratic word.  Only the grumpiest blogger would complain about politicians doing things that make them popular ….  Unhappily, the word “populist” has come to mean a politician who promises cash, services, or benefits to voters.  He doesn’t offer to pay for these things with cash from his own pockets—that would be outrageous!—but instead offers to pay with borrowed money, or with cash taken from taxpayers. … [read more]