What keeps me up at night (if long)

As everyone is now feeling giddy with the year opening gap up yesterday, it is good to always keep track of what the other side is saying.  This is a great illustration of why things may not be as good as that wonderful 1/3/11 day would lead you to believe.  This is a summary of the government’s budget.  As you can see there is only 197 billion left in 2010 after the mandatory items are covered.  That is why they have to borrow 1.5 trillion or so per year to cover the bills.  They are not going to squeeze any more out of corporations as they would just leave the country (some already are).  Where are they going to get the money from if creditors say no someday?  Will we need a VAT tax?

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