You tell me Texas

Wednesday, April 27, 2011 - 12:33pm

Assuming that you wake up at 7 o'clock or so in the morning, between now and the time you get up tomorrow, the United States government will have borrowed about $1.8 billion.

By this time tomorrow night, that number will have grown to $4.5 billion.

That's $188 million every single hour of every single day.

The money to pay all of this debt back can come from only two places. The government can confiscate it from the economy in the form of taxes or it can conjure the money out of thin air.

One kills economic growth.  The other kills existing wealth.  Neither will work for any length of time. This is not an ideological argument.

If you spend more than you earn, if you borrow more than you can pay back, you will go broke, no matter how you vote.

The Republicans want the looming need to increase the federal debt limit tied to meaningful reductions in spending. The democrats are shamelessly demagoguing.

How this argument turns out will tell us an awful lot about our future. Be assured that the entire world is watching.

That's my word, what's yours? Go to and you tell me.


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