Our Posterity

The fact that the federal government has blasted through the $11 trillion debt level was splashed all over the media this morning, right?

Actually, no. This is not news. The U.S. is taking on debt at such a fantastic rate that present generations don't care. It is today's children and the unborn who must pay off the debt. Our guess is they will repudiate it. We put it this way on January 30th, '09. "If posterity repudiates the national debt and bondholders are left out in the cold, with whom would your sympathies lie? Mine are with my great-grandson who deserves more from my generation than a monstrous debt." "Riches to Rags"

Wrisley notes, as we have, that the National Debt exceeding $11 Trillion is not news in the media. They are more concerned, apparently, by the paltry AIG scandal which is a windfall to politicians who are looking for anything to distract us from their real agenda of passing the debt along to future generations so future politicians will have to deal with it.