Wednesday, May 05, 2010

Lost in the Zeroes of Government Finance

Junior Mogambo Ranger (JMR) badge, designed and created by Carsten

The Mogambo Guru goes into a Mogambo Panic Mode (MPM) when looking at the U.S. government's income figures which show that of every $100 dollars it spends, only $61 dollars is tax, and the rest is borrowed.

Even better than that, of that $100 dollars, $65 dollars disappears immediately in entitlements and debt interest, which means that the U.S. government is borrowing to pay off debt, and all of the usual 'services' that a government provides (education, police, army, invasions of Afghanistan and Iraq, courts, etc) is all being paid for with borrowed money.


And the Euro is down against an economy in this state? Just what state is the European economy in?


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