Running out of suckers

Suddenly all this borrowing seems like a bad idea. Hot Air: "Even the NYT now worries about debt."

Every Ponzi scheme has to find new suckers, after all, and this one’s no different. The escalating deficits will cost the Ponzi structure, though, in interest payments down the line. Right now, we pay about $172 billion a year to service our debt, or roughly 5% of our annual federal budget. By 2019, we’ll be paying over $800 billion a year in interest alone, or over 20% of our annual federal budget in today’s dollars, according to the CBO.

That $800 billion a year doesn't pay for safe streets or education or even a shiny new aircraft carrier. In ten years we'll be paying $800 billion a year for...nothing. But at least we can keep borrowing, right?

In the end, no amount of political spin can convince bond purchasers to soak up all the red ink gushing from the U.S. budget.

Uh-oh.