Pres. Obama announced that he plans on cutting the deficit in half.  Sounds like a step in the right direction, but consider this:
You had the perfect physique in High School, but every year you've put on a few pounds and the last two years you gained 20 pounds each year. You now weigh an extra 200 lbs and your doctor and loved ones are pleading for you to lose weight. You promise to cut your weight gain in half! Notice the subtle insertion of the word "gain". What this really means is that you will still gain 10 lbs next year. Not exactly losing weight.
The deficit is like your annual weight gain and debt is like the total weight you need to lose. For example, the Federal deficit for fiscal year 2009 was $1.4 trillion (million million)  while the debt is ten times that (about $14 trillion) [3. The Debt Clock]. Cutting the deficit in half still means the debt is growing.
I wonder how fat we'll get before we go on a real diet.
Music: TMSIDK Episode 16
2 days ago