Saturday, February 15, 2014

Been there, done that

James Kwak explains Why We Have a Debt Problem.

First seven words: "So, we have eleven aircraft carrier groups."

1. Kwak isn't talking about the debt problem. He's talking about public debt.That's not the debt problem.

2. Kwak is talking about military spending. He's gonna want to cut military spending. That's the red line here:

Graph #1: Total (blue) and Military (red) expenditures of the Federal Government

Graph #2: Military Expenditures as a Percent of Total Federal Expenditures

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