PRESTOPUNDIT -- feeding memeorandum & econRT daily

WHAT GOVERNMENT SPENDING with borrowed money has cost us in California:

The increase in debt service payments [by the State of California] in the coming year, if available to spend on current programs instead, would be "enough to pay the annual salaries of 50,000 teachers or to educate 357,000 students. It's more money than the state puts into the entire University of California system each year. It's more money than it costs to provide healthcare for 847,000 Californians." So reports the Los Angeles Times in this piece.

Now imagine parallel accounting on the national scale -- five or ten years from now. Truly appalling. Politician: just another name for thief. Posted by Greg Ransom | TrackBack