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Posts Tagged ‘borrowing and spending like a drunken sailor’

What Do We Have to Show for Our Deficit?

Posted by Larry Doyle on October 8th, 2012 7:15 AM |

There is nothing inherently wrong with borrowing money. Taking out a loan to fund a business, buy a house, pay for education are all worthwhile endeavors for individuals and a nation alike. This said, there comes a point where imprudent borrowing and lending run the risk of fiscal calamity. That segment of our economic landscape is a distant  memory in our nation’s rear view mirror.

My 8th grade son is mesmerized by the Debt Clock in the left hand sidebar here at Sense on Cents adding ~$5,000/second to our national debt. He asks me how our debt could have gotten so high and so out of control. For his benefit and that of others, I welcome providing another view of our nation’s past and projected fiscal deficit.   (more…)






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