by David Stockman
The eruption of government red ink literally defies imagination. The deficit figure topped $863 billion during the month of June alone.
Indeed, the number is so massive that it’s hard to put it in context. But consider this: When your editor joined the Reagan campaign in the summer of 1980, the public debt was also $863 billion and it had taken 192 years and 39 presidents to get there.
So during the last 30 days, the clown brigade which passes for a government in Washington has actually borrowed nearly two centuries worth of debt!
Indeed, the numbers for June are so bad as to give ugly an entirely new definition: