We are living in a bizarre moment in history. Our establishment--the press, the academy, all unions, most politicians, many in business who have skin in the Ponzi game--assure us that borrowing trillions of dollars to finance wasteful spending, while sticking our children with the tab plus interest, is perfectly sensible. On the other hand, believing that we should live within our means is? Crazy!
Michael Ramirez lends historical context to the debate; click to enlarge: