It's time to face the facts, but we can still take a moment for the roses...
Okay, I've had my day or two of hiding out and trying to escape what's happening in the world. It's time to take a look, a nice unfiltered look, at some of the stuff we're hearing about these days.
First, for an explanation of the deficit and of how foreign countries are lending us money to cover our wild spending ways, see this article by John W. Schoen. Yes, I know it's a somewhat filtered view, but it will set the scene for what is to follow. (Thanks to my Canadian reader for passing on this link).
Ready? You'll love this one. It's the Final Monthly Treasury Statement of Receipts and Outlays of the United States Government. It lays out, in tasty detail, what comes in and what goes out, and how our deficit grows for part of the year 2004. I know, it's from a few years back, but it will give you an idea of what our national budget looks like in action.
Here is the Paulson Plan for the bailout of Wall Street that started everything. Now that we're getting the hang of going straight to the source, here is the text of the "Wall Street Bailout" that the Senate is voting on tonight. Yes, it's 451 pages long, but you remember your skimming skills, I know you do. And finally, here is the text of the bailout version that failed in the House a couple of days ago. It's a bit shorter.
Let's get to work. It's our job to be informed citizens. Especially when generations will be paying for what happens next.