|Obama and Biden rejoice over their "excellent" strategy|
Former Treasury Department big, Emil Henry, has a concise piece in the WaStreJo this AM (my attempt at text/Twitter shortening of the Wall Street Journal) titled "America's Debt Ceiling Opportunity," He cites the report "USA, Inc." - a report we have discussed in these pages before - that is a bi-partisan effort to look at the Federal Government's finances as a business would. You wouldn't buy shares in this firm - here's their 2010 summary:
For example, if Congress had submitted fiscal year 2010 financial reports of our country in a fashion similar to a corporation, the U.S. would show a negative net worth of $44 trillion, an operating loss of $817 billion, and $1.3 trillion of negative cash flow.
Reminds me of the scene in the movie "Dave:"
America the Sclerotic." OK, Michael, we're a
Cut, Cap and Balance is headed for a vote today. The adults in Washington continue to try to lead - sadly, the petulant Obama will probably veto it, so it is only symbolic. But hey - he continues to be popular:
If you turn the graph upside down.
Hot day ahead!