There was a news item a few days ago that got very little attention yet was perhaps the story of 2012 less than two weeks into the new year. It should have been front page above the fold with a bold, red headline. The total debt of the United States now exceeds our Gross Domestic Product, or
“The 100% mark means that your entire debt is as big as everything you’re producing in your country.”
“Economist Mark Zandi of Moody’s Analytics says reaching the 100% mark shows ‘the grave need to address our long-term fiscal problems.”
Much has been written about the notorious Cash For Clunkers program. Supporters relished in the fact that it was very popular and spurred automobile sales. It should not be a surprise that a program that gives money away will be popular (at least to those getting the money) and should increase sales. Opponents claimed that the program was a waste of money and rewarded people who probably did not really need the money and eliminated thousands of serviceable cars from the secondary market.
Part 5 – Mushroom Farmers
I was going to call this Dyson (that fancy sweeper) to allow you to imagine that sucking sound as you think about the amount of money that will be sucked out of our wallets. I could have also called it “No Apologies Necessary” or “Pay No Attention to What I Said Before” or “Look at How Much I Can Get for $26/Month” or “They’re Stupid and Will Accept What We Tell Them.”