Friday, April 22, 2011

Our economic tsunami

I heard on the Today Show this morning that the current estimate on the damage caused by the Japanese earthquake and tsunami is $300 billion.

The amount of money the U.S. government is overspending this year is 4 times that much.

That's a massive tidal wave of economic destruction caused by Congress and the president.

Are you starting to get a feel for the enormity of our financial problem?


Gene said...

Um..."...caused by Congress and the president." is a little too simplistic. "Caused by congresses and administrations since 2001" would be a fairer assessment. Wouldn't it?

The G-man said...

You are correct, Gene. That would be more accurate. Although the problem created by our political leaders extends back even farther than that, because the problems with social security running out of money have been known for longer than that. But this problem was not created in one administration or by one political party's lack of leadership. And it's a bigger problem times 4 than Japan is facing. The damage is just not as easily visible, yet.

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