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The Debt-Sea Scrolls

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Posted on March 14 2010 6:00 pm
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by Of Thee I Sing 1776

The Debt Sea, that ocean of red ink that threatens to overflow its banks and inundate every nook and cranny in America from Main Street to Wall street, is bordered on the south by the Potomac River, to the east-southeast by the Anacostia River, to the north-northeast by Prince Georges County, Maryland, to the north-northwest by Montgomery County, Maryland and to the immediate west by Georgetown and the historic 175-year-old Chesapeake-and-Ohio Canal.

The Debt-Sea Scrolls tell a story of evolving fiscal folly that could represent one of the greatest man-made disasters ever — the destruction of mankind’s most successful experiment in governance and the crippling of an economic system that produced the greatest sustained prosperity the world has ever known. The first of the Debt-Sea Scrolls was written around 80-years ago when the government believed it could spend its way out of the Great Depression with money it didn’t have…with money it didn’t even almost have. The programs (known as the “New Deal”) described in the first of the Debt-Sea Scrolls didn’t succeed in revitalizing American industry.

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