The further to the left or the right you move, the more your lens on life distorts.

Thursday, October 08, 2015


I have warned about growing national debt since well before Barack Obama became president. George W. Bush, during his years as President, joined Democrats in their profligate spending binge, increasing debt year over year. But Obama doubled down on wasteful, unnecessary spending, making it a priority. During his tenure, our national debt has nearly DOUBLED, now approaching $19 trillion.

The Wall Street Journal reports:
Central banks around the world are selling U.S. government bonds at the fastest pace on record, the most dramatic shift in the $12.8 trillion Treasury market since the financial crisis.

Sales by China, Russia, Brazil and Taiwan are the latest sign of an emerging-markets slowdown that is threatening to spill over into the U.S. economy. Previously, all four were large purchasers of U.S. debt.
Do China, Russia, Brazil and Taiwan know something we don't? Are they concerned that our debt is growing to crushing levels or that even a whiff of 'default' is cause for concern. Who knows?

Ideologically driven economists (think: Paul Krugman) tell us that debt is good. Progressive politicians, supported by their trained hamsters in the media, cheer and keep right on spending.

In FY2015, we spent $402,435,000,000.00 (for innumerate progressives, that's $402 billion dollars) on the interest to service our debt. That's interest only!

This enormous and continually growing sum would be better spent on other things that actually might benefit infrastructure or national security. In fact, it might be be better to leave the money in taxpayers' pockets and reduce spending—a lot.

Nah, repeat after me—debt is good, spending is good, debt is good, spending is good ...