Thursday, 9 April 2009

A screen-saver image for the head of the Chinese central bank

The following graphic illustrates the forecast for annual deficits of the US government over the next decade. Remember each year the number is below the line means that overall national debt is increasing by that amount. Of course that additional debt has to be serviced as well.

If I was running the Bank of China (now there's a novel thought) I would require that this be downloaded and used as the desktop image or screen saver for all of the diligent and thrifty workers at the bank.

The source of the graphic was The Washington Post An acknowledgment is made to the CBO, White House Office of Management and Budget, so presumably this is in the public domain. And if it isn't, it certainly should be.

The piece in the Washington Post includes the comment that

President Obama's ambitious plans to cut middle-class taxes, overhaul health care and expand access to college would require massive borrowing over the next decade, leaving the nation mired far deeper in debt than the White House previously estimated, congressional budget analysts said yesterday.

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