Bollettino
Readers should go to Business Week for several articles that gingerly sift through the budget debacle. Trying to be fair to the White House, the writers put in some mush mouth disclaimers about how the US could "carry" a deficit equivalent to 5% of the GDP indefinitely. Yes, we could, but if the experience of the 90s showed us anything, it is that we are better off not. It is true that a smoker can still do two packs even after they yank out one of his lungs, but it isn't, I hear, recommended. Of course, these kinds of things are always wrapped around comparisons with long term corporate debts. The argument -- the sound argument -- is that any large organization needs to borrow to maintain and expand its infrastructure. That seems right to me. But there really is no corporate parallel that fits what Bush has done. The production of this debt load is not derived from any sane project -- it is actually coming on top of the refusal to finance forseeable future
“I’m so bored. I hate my life.” - Britney Spears
Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann
"Never for money/always for love" - The Talking Heads