Catfish and Cod
Tuesday, July 15, 2003
Who's the deficit scapegoat?
(Link path: Like Kryptonite to Stupid; Yahoo/Reuters)
Yes, Oliver, we're running debts now. That's because we're at war. In war these things happen.
The reason it's devestating that we're running deficits is because we had a tre-mendous $6 x 10^12 debt even before Old Sammy's Bin Ladles. And that's the fault of Reagan and Bush 41. Clinton only controlled the damage that had already been done.
Eh. The debt won't be repaid; it can't be, now. The real question is, how long will the banks play along before they stop buying T-bills and crash the world financial system? That's when all hell will break loose.