Today, the government runs out of money—money it receives in taxes, that is. For the rest of the fiscal year—until October—we’ll be running on debt. This is the earliest debt day in history. The supposedly profligate Bush administration and Republican Congress put it into July one year; usually, it’s been in September. John Hinderaker:
The Obama administration is wasting our children’s birthright on stupid government spending, authorized by legislation that not a single member of Congress read before voting for it. And we haven’t even gotten to cap and trade and socialized medicine yet. Barack Obama is Bernie Madoff in 1998.
Note to the electorate: This was entirely predictable. If you care at all about fiscal responsibility, never vote for a Democrat.
UPDATE: If you haven’t seen this chart, it will help to put things in perspective: