Most Red Ink Ever

I’m not an economist, but my gut instinct tells me that this isn’t going to work in the long term…

In a chilling forecast, the White House is predicting a 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America’s founding. And it says by the next decade’s end the national debt will equal three-quarters of the entire U.S. economy.

It’s hard because our costs of production are so much higher than other countries (because of  our laws, regulations, and standard of living.  China is forging ahead in solar production, with average new graduate engineers making only $7,000 a year).  We need to export.  Without exports, there will always be more money going out than coming in.  Even if we can’t compete with the production costs of other countries, we’re going to have to find something that we can make and sell.

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