CALL GREENSPAN! WHIP OUT THE PRINTING PRESS!

Posted in Rants on May 1st, 2006 by Ed

Boy, it's really funny how other governments have to pay some attention to their budgets and operate in the mental realm of "real money" rather than fantasy.

This week promises to be an unanticipated vacation for many residents of our colonial bombing range/non-state neighbors in Puerto Rico. Their government has shut down over an acute budget shortfall and inability to raise emergency revenue.

Those silly brown people! Don't they understand the American Way of solving massive budget shortfalls?

  • 1. Print more money
  • 2. Have the government borrow massively against the "faith and credit" of itself, the very same government that needs to borrow against its own faith and credit because it's broke
  • 3. Print a couple billion in treasury obligations. Sell to China. Decry trade deficit, foreign investment, and plummeting value of the dollar. Repeat.
  • Unbelievable! Silly Puerto Rico. No wonder it's not a real state. They're going into full crisis mode over a $740 million shortfall. Pussies! Here in the mainland, we piss through that amount in Iraq in about 12 days. Psh. Three-quarters of a lousy billion dollars. Hell, you wouldn't even need an emergency appropriation – you could just tack a rider on to something else for an amount that piddling.