August 6, 2024
Tuesday Open Comments
Let’s start with a picture, and note that it is worth a few trillion words.
It comes from Manhattan Institute economist Brian Riedl’s TwiX account. He further remarks on TwiX regarding the massive budget problem:
As background, the debt is projected to soar past 230% of GDP within three decades under current policies - and even that assumes low interest rates don't push it towards 300% of GDP. By then, interest would consume 50-80% of all annual taxes. Lest I sound alarmist, the Penn/Wharton economists could not even model out a long-term functioning economy under its baseline debt projections.
I’ve got no idea to fix this, but no one running for office appears concerned, much less trying to interest the public in the issue, either.
Should we return to discussing countries to flee to instead?
Yesterday, a small group - husband and me, B and F - went to the NC Arboretum. It had very nice mushrooms and many trees. We saw a doe browsing near the paths and a snake that was annoyed when I got in his sunbeams.
No bears have been sighted, but there are claw marks on the bear-proof trash bin.
Good morning. We're in a cloud ☁️. There are small, bitey bugs that produce itchy welts: not mosquitoes, something else. I'll increase my consumption of garlic when I get home.