{"id":1191,"date":"2012-02-10T19:43:33","date_gmt":"2012-02-11T02:43:33","guid":{"rendered":"https:\/\/scotshonor.com\/?p=1191"},"modified":"2012-02-10T19:43:33","modified_gmt":"2012-02-11T02:43:33","slug":"greecing-the-skids","status":"publish","type":"post","link":"https:\/\/scotshonor.com\/?p=1191","title":{"rendered":"GREECING THE SKIDS"},"content":{"rendered":"<p>Most of us are less than stellar at predicting future events.\u00a0 However some things, usually bad, are easy to predict.\u00a0 The reason is that similar events have happened in the past and scientists know they will happen again.\u00a0 For example; at some point in the relative near future, California is going to have another major earthquake.\u00a0 It may not be the \u201cbig one,\u201d but it will be a major earthquake and it will do an incredible amount of damage.\u00a0<\/p>\n<p>Greece is reminding us of the evitable consequences of spending money you do not have.\u00a0 This too, is inevitable.\u00a0 If you spend more than you make, at some point, no one will lend you more money.\u00a0 This is as true for governments as it is people.\u00a0 When that happens, you have to cut spending, even if the cuts are unacceptable.<\/p>\n<p>This is hardly a new problem.\u00a0 Our Government has been running up deficits for decades.\u00a0 It is important to understand that the \u201cClinton Surplus\u201d was a temporary situation resulting from a peak in the Social Security Cash Flow.\u00a0 The following chart, from George Mason University, shows what happened:<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/scotshonor.com\/wp-content\/uploads\/2012\/02\/FINAL-SURPLUS.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1196\" title=\"FINAL SURPLUS\" src=\"https:\/\/scotshonor.com\/wp-content\/uploads\/2012\/02\/FINAL-SURPLUS.png\" alt=\"\" width=\"691\" height=\"603\" \/><\/a><\/p>\n<p>It is really simple.\u00a0 We either cut spending now, or we cut spending later.\u00a0 The longer we wait, the more it will hurt.\u00a0<\/p>\n<p>\u00a0TDM<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most of us are less than stellar at predicting future events.\u00a0 However some things, usually bad, are easy to predict.\u00a0 The reason is that similar events have happened in the past and scientists know they will happen again.\u00a0 For example; &hellip; <a href=\"https:\/\/scotshonor.com\/?p=1191\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1191","post","type-post","status-publish","format-standard","hentry","category-latest-headlines"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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