Drowning in Red Ink

This week the national debt topped out at over $16,000,000,000,000. I guess that is why the official logo of the Democratic National Convention looks as if the Obama "O" has people drowning in red ink. If the logo is viewed upside down it resembles the Sherwin Williams logo. All that is missing is a slogan like "Cover the Earth in Red Ink."  No matter what perspective is used there is no arguing that the country is now awash in a sea of red ink.  To keep pace with federal expenditures, we now borrow 42¢ out of every dollar that is spent.  This insatiable appetite of the federal government to borrow and spend as if it does not matter resulted in the historic downgrade of our national credit rating.  We now hold the lofty title of being the largest debtor nation in the world. Except for a few years in the 1990s, the federal budget has not been balanced in living memory. This has resulted in an attitude on the part of the public that operating without a balanced...(Read Full Post)