Red ink: the government is drowning in it. The first two months of fiscal 2010 set a new record. Curiously, this report was issued late Friday -- the slowest news day -- and it has been completely ignored by state-run media.
Here's the updated graph showing theory vs. reality. It's as if the Climategate scientists were making the projections.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5uSGYf6tF0M_95PXAaE5PhMx8uF0RirDG3jkezCm9PRj5tccyedCMcXbdw8MCTcuwlwAFFe34gsta4RxdD0HBg3eqxJiWBWMoIEOGp9oDe3YlLbfH6Fn82hu26AjS2dua4FfE7A/s1600/091206-graph-2.jpg)
If the deficits continue to overshoot prior estimates, which they almost certainly will, the country is headed for total, hyper-inflationary meltdown: China and Japan will simply cease buying debt that can't be repaid.
Oh, and recall that these totals don't even include state and local governments -- like the Blue State Utopias of California, Michigan, New York and New Jersey -- that are hemorrhaging revenues and residents as fast as they can pack their belongings, stuff them in U-Hauls and clear out for greener pastures.
That deficit represents a 25% overshoot.
Congratulations, Mr. President: your strategy is working.
1 comment:
"Congratulations, Mr. President: your strategy is working."
His strategy is working: America is being reduced to a banana republic.
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