The Reds Are In Charge
A nice graphic to go with my previous post Four Times As Much. The graphic was originally done by The Washington Post.
H/T Instapundit
Cross Posted at Classical Values
Wednesday, March 25, 2009
A nice graphic to go with my previous post Four Times As Much. The graphic was originally done by The Washington Post.
H/T Instapundit
Cross Posted at Classical Values
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
Wow.
An obvious comment is that this is the increase of the deficit - ie the yearly deficit, and not the total of the deficit, which is the amount that is to be repayed or at least payed interest on.
Also, I guess this increase assumes that buyers can be found for the newly printed state obligations - ie that lenders are found so that this money can be borrowed.
On our side of the pond, we hear the Chinese talking about 'alternative reserve currencies', meaning they'd like to move away from the USD. With the USD no-more central to global commerce than say the Mexican Peso, running a deficit at x times the GDP won't be a good position to ask for more money....
Interesting times.
-S
Post a Comment