$20 Trillion and Rising

Another night in any town
You can hear the thunder of their cry
Ahead of their time
They wonder why
--Journey

Earlier this week federal debt topped $20 trillion. We're so used to talking about government spending and debt in the trillion$ that we tend to lose perspective on just how immense and intractable this level of borrowing is.

The primary losers, on this planet, are the young. Because it will primarily be their production that must be surrendered to pay back debt, young bears the brunt of old's profligacy.

However, the primary losers, on Judgment Day, may be the old. The old will have to answer for saddling their children with unpaid bills and turning them into debt slaves.