If you type slower than me you should hire a secretary.
If you think slower than me... well I can’t help you there.
Naw - I got distracted by people coming in my office mid-post. Does that count?
;-)
It’s much worse than the analogy of a person with an income of $50,000 spending $100,000. While it’s good to look at GDP when assessing the accumulated National Debt, the annual deficit should not be compared to the GDP. The GDP measures total economic output, but much of that output is not taxed. The critical comparator for me is the size of the deficit compared with the overall budget. In Obama’s case, he’s borrowing 40 cents for every $1 which is spent. He’s putting it on the national credit card and demanding Congress increase the limit every year. The Congress doesn’t have the guts to cut him off, but eventually foreign lenders will. That is when the crisis will occur.