Tuesday, September 14, 2010

Andrew Klavan: Obama's Beach Blanket Recovery: It's Happy, Snappy & Incredibly Crappy

Andrew Klavan gives us a pithy(English word!) synopsis of the msm, as they have reported on matters BHO. Take a look:

(H/T Ken)

Did you notice the National Debt Clock in there? In real time? The numbers are staggering and give extra weight to the fact that - according to what I read the other day - America's debt is now more than all the money in the world. Mindboggling.

U.S. National Debt Clock : Real Time

Take a look at the graphic there. Scary!

As Kevin Williamson says here :

Our Debt Is More Than All the Money in the World

Just a reminder: We are in trouble.

I have argued that the real national debt is about $130 trillion. Let’s say I’m being pessimistic. Forbes, in a 2008 article, came up with a lower number: $70 trillion. Let’s say the sunny optimists at Forbes got it right and I got it wrong.

For perspective: At the time that 2008 article was written, the entire supply of money in the world (“broad money,” i.e., global M3, meaning cash, consumer-account deposits, checkable accounts, CDs, long-term deposits, travelers’ checks, money-market funds, the whole enchilada) was estimated to be just under $60 trillion. Which is to say: The optimistic view is that our outstanding obligations amount to more than all of the money in the world.

Global GDP in 2008? Also about $60 trillion. Meaning that the optimistic view is that our federal obligations outpace the entire annual economic output of human civilization....

Read the rest here, and remember in November.

THIS Brit won't be calling BHO any rude names, but feel free to use the address in the Reality Check logo up there to keep them informed. In the meantime, no worries. BHO tells us everything is going in the 'right direction...' or some such platitude.

So I'll meet you all at the beach. Towel, boy!

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