Debt Shock

Even the laughably liberal New York Times is starting to experience Obamanomic sticker shock. According to the Times headline, the “Federal Government Faces Balloon in Debt Payments: At $700 Billion a Year, Cost Will Top Budgets for 2 Wars, Education, Energy.” The page one article explains that the debt is rising so quickly that "payment shock" is knocking on the door of the American economy so "there is little doubt that the United States' long-term budget crisis is becoming too big to postpone."

Little wonder. With his "brilliant" plans of bailout bucks to GM before bankrupcy and a stimulus package that has produced fewer jobs of late than the buggy whip industry, Obama has displayed the economic accumen of a '70s child star before their '90s rehab. And now he wants to add a trillion dollar government managed health care system to the mix. A system directed by the same people who have destroyed the fiscal condition of medicare, social security and the post office. Looks like we could be in store for generations of debt shock.