The only DOOM! that matters

(Thx to Slublog for the pic)

Our current unfunded entitlement liabilities run about $100 trillion.

That is an enormous, ludicrous number that can only be properly expressed in scientific notation: 1x10^14. It's the kind of number you use to describe problems in astrophysics and quantum theory, not finance. It will never be paid out because it can't be paid out. This is what happens when you let a bunch of disorganized hippies who don't know math control fiscal and social policy. The welfare state will bankrupt us just as surely as the sunrise.

And we are doubly boned because Americans like their comfy welfare-state apparatus, but don't want to pay for it. This is what happens when you never see the true cost of things you buy; this is what happens when you never see a bill.

Congressman Paul Ryan to President Obama: "Take a seat and let the adults run things for awhile, what do you say?"

California looks to Texas for advice on how to become un-boned. However, the California Supreme court sniffs haughtily and says, "No thank you. We prefer to be boned, actually. It's our just punishment for being Gaia-raping worker-exploiting non-eco-conscious omnivores."

The endgame for the Greeks may be in sight. Portugal and Ireland won't be far behind.

[UPDATE 1]: Kratos reminds me that Moody's just cut Ireland's debt two notches to near-junk status.

[UPDATE 2]: Iowahawk does what he does, as only he can do it. All hail the 'hawk!

[UPDATE 3]: Because President Obama is all about the healing.

(Part 3 of my econ series will appear next week; I'm still working on it.)

posted by Monty at 09:23 AM

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