The dollar continues to slide against all currencies. Maybe that's because we have about $9B ($9,000,000,000,000) in debt. Meanwhile, the porkers in the government continue to spend.
As Sen. John McCain said, things have gotten so bad in Congress that the porkaholics won’t even vote for a mere one-year pause. He was referring to the 71-29 vote against the DeMint-McCaskill budget amendment requiring a one-year moratorium on earmarks, which have been described by Sen. Tom Coburn, R-Okla., as the “gateway drug to federal spending addiction.”...From a partisan perspective, the Democrats oinked the loudest: 45 of 51 in the Senate voted against DeMint-McCaskill, while 26 of 49 Republicans cast nay votes.For all the vitriol I hurl at the profligate Republicans, it's no secret that the Democrats are worse. Meanwhile, John McCain, the candidate shredded by the "true conservatives" in the right wing talk show world is one of the few try to stem the tide.
Over in the stock market, Bear Sterns is selling itself for 2% of it's recent stock price because it was devoured in the recent wild home loan borrowing spree. I guess loaning money to people who can't pay you back is a bad idea. Who knew?
I know this is a radical idea, but how about if we work hard, save our money and live beneath our means? We might want to try that some time.
Nahhhhhh. I think I'll go watch some MTV on the big screen TV I bought on credit last week....
Update: Our Apian Apostle has a great post on our future financial obligations. Wow.