Sorry, but I gotta provide some erudite leftist commentary. The US debt is 14.3 trillion, not 140 trillion. Now I know, I know, facts and numbers are inherently left-wing, But I thought I'd give it a shot.
BigRed. Thanks for the erudite comment. You're right if you are talking federal debt. Mark gets to the 140 mark by adding in state and municipal debt.
http://www.steynonline.com/content/view/3999/26/
"Once you add in state and municipal debt, you need to add a zero to that reassuringly familiar $14 trillion hole. The real hole goes ten times deeper: $140 trillion — or about twice as much as America’s total “worth.”"
Don't know if his figure is accurate, but the point is, the aggregate debt is beyond easy human comprehension.
The left/right argument is being played out in real life right now between Quebec and the Rest of Canada.
I know there's a lot of Conservatives in Quebec who feel orphaned by the election results. Hang on a little longer because it took us eighteen years to get this far. You could always move.
I think concentrating the socialists in one jurisdiction will demonstrate their policies in action that much sooner.
The federal debt is still $500 billion, and there is another $500 billion in unfunded liabilities(mostly pensions). Now lets add the Provincial debts and unfunded liabilities and Canada is in a deep hole as well...
Sorry, but I gotta provide some erudite leftist commentary. The US debt is 14.3 trillion, not 140 trillion. Now I know, I know, facts and numbers are inherently left-wing, But I thought I'd give it a shot.
ReplyDeleteBigRed. Thanks for the erudite comment. You're right if you are talking federal debt. Mark gets to the 140 mark by adding in state and municipal debt.
ReplyDeletehttp://www.steynonline.com/content/view/3999/26/
"Once you add in state and municipal debt, you need to add a zero to that reassuringly familiar $14 trillion hole. The real hole goes ten times deeper: $140 trillion — or about twice as much as America’s total “worth.”"
Don't know if his figure is accurate, but the point is, the aggregate debt is beyond easy human comprehension.
The left/right argument is being played out in real life right now between Quebec and the Rest of Canada.
ReplyDeleteI know there's a lot of Conservatives in Quebec who feel orphaned by the election results. Hang on a little longer because it took us eighteen years to get this far.
You could always move.
I think concentrating the socialists in one jurisdiction will demonstrate their policies in action that much sooner.
Quebec is a socialist state that expects someone else to pick up the tab. Fits nicely with the NDP.
ReplyDeleteLets not be smug here.
ReplyDeleteThe federal debt is still $500 billion, and there is another $500 billion in unfunded liabilities(mostly pensions). Now lets add the Provincial debts and unfunded liabilities and Canada is in a deep hole as well...
Thuc: I think it's more "let's be scared" than "let's be smug". If the US fails, it's going to take a lot of countries down with it.
ReplyDelete