We'll end this week with something that's a bit of a downer, but I think needs to be pointed out.
One of the great advantages of the US Political System is its resiliency. We've survived a Civil War, foreign invasions, Watergate, Monicagate, scandals and crimes, and have changed policial leaders from one party to another without a punch being thrown.
Our economy has prospered, we've outlasted the Great Depression, blasted through a multitude of recessions- the overall trajectory of the United States has been upward.
As long as we don't muck with the foundation, we can handle quite a bit.
Unfortuantely, with the deficit and debt, we're eating our seed corn. We're writing IOUs that will have to be paid, with interest, by our children and grandchildren.
We either go through pain now to control it- or someone else goes through a lot more pain in the future.
So here's a reminder of how bad the problem is.
The debt has been larger once, and comparable on a couple occasions. Concern is warranted to be sure, but you'll forgive me if I don't jump on the hand-waving the-foundation-of-our-country-is-cracking paranoia wagon.
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