Drowning Sucks

First, the youtube video

And now, the rest of it. As the USA debt stands now, well, I'm not a pencil pusher. But plenty of other people (in high school we called then GWM, "Good With Math") have pushed their pencils. The inevitable conclusion they arrive at is that within five years the USA cannot service it's existing debt . Let me repeat this; cannot even pay the interest rate on it's debt in five years. It's called the Greenspan-Guidotti rule,which is basic math speak for the same issue we all would face if we had too much credit card debt; eventually we can't pay the minimum, let alone the balance, and we default.

So, I said to DH Matt what would that look like in this country? We have State financial problems in California, and already we are seeing closures of State financed programs. The schools and libraries are in serious trouble. What if there were no Federal funds? Our minds boggeled just thinking about this. Hospitals rely on Federal funding. The government would still honor medicare, medicaid and social security, but it would freeze hikes just when inflation runs rampant.The poor and the elderly will suffer. There will be no wildfire funds...colleges will possibly close. My imagination stops there, because with both the State and the Federal governments broke, life as we know it is, at the very least, disorganized.