438,000,000,000 438 billion.
pah! pennies! All governement's work negative. It's not like they have any intention of paying off their foreign loans. (why do I hear Dubbya's voice saying "Print more money, thatall take care of it."?)
They're saying perhaps, just maybe, the US is heading into a recession. And, with the global warming theme playing in the back ground, I have Grapes of Wrath and the Dust Bowl stuck in my head.
Let's look at this in macro. If I owed 438 thousand dollars, and I didn't have the money to pay it, I would be in jail.
What do they tell people who rack up debts and can't pay? Cut up your credit cards and pay cash.
Grass roots action here!
I say, the pres, military, congress and the house each get a bank account. They each get say, "10 billion", hot off the printing press. They write a check, just like any other working slob, for anything they want. And if the account goes negative, they pay a fine. And when the account goes too far negative, like $50.00 (they got SHIT credit, no big overdraft for them!) they pay a daily fee, just like any other bank account. And if after a week of not paying that fee, the account is frozen until they do.
So, no money in account - no spending. Their kids go hungry. The dog gets the left over bone, not the 'meaty bone'. They lose their 'house', if they aren't careful. They got to decide if the new security system is more important than feeding the baby. And if having gas heating is more important than paying for a gardener.
and they would be the first government in world history, not to be in debt.