First, read the whole piece… with this choice pull:
Debt is now the father of us all. In some sense, every cruise missile fired, every Social Security check cashed, ever NPR show aired is done so in part with borrowed money. In response, the president saw the impending doom of insolvency, appointed a bipartisan commission to draft a solution, and then ignored his own appointees’ recommendations. So far the excuse is largely that George Bush ran up debt as well, although last month Obama’s red-ink exceeded the entire 2007 budget deficit under Bush — 30 days of Obama trumping 365 of Bush.
Second, wonder why there isn’t actual baying for blood over these figures we are racking up.
Third, realize that the fit has yet to fully hit the shan, although we are starting to see the ill-effects of our profligate ways even now.
To the uninformed, passive observer, things are still moving along all right, despite the rise in food and energy prices. They can still get some government services, they can still get food and gas mostly when they desire. But when the full brunt of the collective, poor fiscal decision-making starts to be felt, then will begin the baying for blood.
There will be few basic services, no more “free” government handouts because we simply will not have any money left. Not even fake money.
And by then, it will be way too late for corrective action.