Have we become a country of such self-destructive losers? Well, you might think so. Apparently Roger Kimball does, writing today the following:
There is no point in trying to imagine what a $1.5-trillion deficit means. For most of us mortals, it is simply unimaginable. All the more is a total federal debt of $14.3 trillion (and counting). And I haven’t even broached what I think of as the Williamson Warning (after Kevin Williamson, who gave prominence to the dour fact), namely that the real out-the-door, all-in price of U.S. debt is something closer to $130 trillion, a sum that, if you can bear to think about it, is Book-of-Revelations, Seventh-Seal, Four-Horsemen-of- the-Apocalypse scary.Consider: there are roughly 150 million workers in America. A $1.5 trillion deficit means that our federal government borrowed $10,000 for every person in the American workforce! In one year! Where do they think that money will come from? It can only come from those same workers, can't it? And yet: it can't. American workers can't possibly generate that kind of extra wealth to pay off just this year's debt. And what about next year's? And the year after that?
To paraphrase Scott Fitzgerald: And so we beat on, boats borne along ceaselessly toward Niagara Falls. Can't you hear the roaring downstream as the water crashes on the rocks? I can.