Wednesday, January 5, 2011

The Crush Depth of Debt

With a hat tip to the Anchoress for bringing this post to my attention, I urge everyone to follow the link to this post in Sense of Events on the National Debt. It starts:

What happens when a submarine reaches its crush depth? The question answers itself. World War II U-boat Capt. Hebert Werner related in his postwar book, Iron Coffins, that no one knew how deep a U-boat could dive. "Because," he said, "the only crews that found out were crushed a half-meter later."

The United States is approaching its financial crush depth. The liberal media (but I repeat myself) have proclaimed that the 111th Congress was the "most productive" in generations. One thing the Triple One did produce was debt - not merely mountains of debt but a whole Himalaya range. In fact, this Congress borrowed more money than all 110 previous Congresses combined. In the right-hand column of this site I run a widget that counts the federal debt as it winds toward the orbit of Pluto; as of today at 1.40 p.m. C. it stood at just under 14 trillion, 27 billion dollars.

Read the rest here.

No comments: