Steyn: Road To Ruin Getting Shorter
(image courtesy of Alvie)
From Mark Steyn's latest:
...The president's plan is to balance the budget by climbing into his Little Orphan Obammie costume and singing: "The sun'll come out tomorrow/Bet your bottom dollar that tomorrow there'll be sun."
We've already bet our bottom dollar and it's looking like total eclipse.
But Obammie figures if we can only bet Daddy Warbucks' bottom dollar the sun will shine.
The "rich" don't have enough money to plug the gap: As a general principle, whatever the tax rates, the Treasury can never take in more than about 19 percent of GDP. Since Obama took office, the government's spent on average 24.4 percent of GDP.
That five-point gap cannot be closed, and it's the difference between the possibility of a future and the certainty of utter ruin. Hence, outlook "negative"...
Read the rest.
And remember the concept of "crush depth":
You only know it once you've passed it.
For a few fractions of a second, that is.