With the U.S. displaying characteristically Third World national stats, and average households deep in financial trouble (see below),
…one truly wonders if the Obama administration has any sense of proportion at all when proposing a ridiculous 100mm dollar budget cut. Consider that more than a quarter of the total budget is financed by growing debt (people’s savings, and, by people, I mean Chinese people and other net savings countries like Chile and El Salvador that have been long buying U.S. Treasury bonds and transfering their savings). Click here to see what those 100mm represent with respect to the total budget.
