One Trillion Dollars

$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
$1,000,000,000,000!
    
With a simple stroke of a pen, world "leaders" have magically conjured up $1,000,000,000,000 to rescue the weaker countries in the European Union.  Can it really be that simple?  Can the world's greatest problems be solved with an edict from finance ministers that every problem will be financed with absolutely no consequences?

Have all this handwringing over how we're going to pay for Social Security, Medicare, Medicaid, public pension liabilities, Wars on Terror, interest payments on public debts, public education, infrastructure improvements all been for naught? Can we have the highest quality medical care for every single person in this country, if not the world, if we really wanted it by just issuing more money?  Were we just being juvenile and naive when the country got hysterical over Ronald Reagan's $200 billion dollar budget deficits? Or George W. Bush's $400 billion?  So what was the point of having a budget surplus during Clinton's presidency?  Maybe we were depriving ourselves of all we could have bought by saving so much money during the 90's. Are the Chinese and other tight fisted Asian countries just chumps for not spending more and living the good life?  Would the world be a better place if the Chinese stopped saving so much money and started spending like the Greeks, the Spaniards, the Portuguese, and yes the Americans?

President Obama's federal budget deficits of $1,420,000,000,000 in 2009 and projected deficit of $1,170,000,000,000 in 2010 almost inures us to these inconceivably large numbers.  But as we head deeper into the 21st century, these are scary times for those of us who don't print our own money but will suffer the consequences of the actions by those who do.  Good night, and good luck.