Elmo Explains the National Debt

By Tim on 04/23/2012 in Debt

From last week at Across the Street, Elmo explains why it is per capita income and debt that matter most when trying to make sense of U.S. debt, not the broad gauges of economic activity that include government spending and transfer payments and, not surprisingly, paint a much nicer picture of our condition.

The level of government spending discipline is seen as being like “crack-whores with stolen credit cards” (a characterization that crack-whores may find offensive) since, on a per capita basis, we all go into debt by another $400 each and every month.

2 Responses to Elmo Explains the National Debt

  1. Dave Cohen April 23, 2012 at 8:08 AM #

    Re: a characterization that crack-whores may find offensive

    LOL!

    thanks,

    - Dave

    Reply

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