A followup to my Debt Sun post. The Congressional Budget Office has announced that it underestimated the deficit for this year by a teensy bit. Instead of $1, 200, 000, 000, 000.00 it is $1, 800, 000, 000, 000.00. This deficit is four times higher than the 2008 deficit which was a record breaker.
It is hard to wrap one’s mind around these astronomical figures. After the Bankrupt the Nation Act of 2009, sometimes erroneously called a stimulus bill, passed, Bill Whittle helpfully put together this video to aid us in understanding just how much money $1,000,000,000,000.00 is. Questions for our readers. Does anyone believe that we are not heading down the road to an ultimate repudiation of our national debt? If not, absent hyper inflation, how will this debt ever be repaid? Additionally, what if our ability to borrow comes to a screeching halt due to an inability to service the debt? We are far down the path of fiscal lunacy and this will not end well.