Christmas is the time when kids tell Santa what they want and adults pay for it. Deficits are when adults tell government what they want and their kids pay for it.
[This quote reminds me of a book I just finished listening to: The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel by Stephen Leeb and Glen Strathy. It has some interesting stuff in it. He claims we are headed for some very bad times, “Unless government does something.” Of course this annoys me a great deal unless he means that government should stop meddling in the free market. Published in 2006 he correctly predicted $100/barrel oil when it was $60 and the DOE was predicting it would return to the $35 to $45 range. He said gold would skyrocket. He is saying that we could even see the collapse of civilization because of the shortage of energy and our large debt.–Joe]