"Hey! I need some cash. Do you have any cash?" I yelled up from the bottom of the stairs.
"Um, yeah. I do. Actually, I've got a lot of cash. Look in my wallet."
"Yesssss. I knew there was a reason I married you."
My husband created this piece in the early 90's when Ross Perot was all deficit, deficit, deficit. Which made 17% of the American people polled at the time all about the deficit, too.
Not so much today. In January 2006, Just 2% of Americans pointed to the budget deficit as the country's most important problem, a number that has remained stable throughout Bush's presidency.
I am not well equipped to discuss this sort of thing. When reading articles to write this post, I ran across this comment to a post by Matt Yglesias. (I'm not well equipped to type that guy's name. I had to look back at it 10 times before I got it right.)
Anyway, here's the comment to his post:
Although foreign money loves 10 year Treasuries, the Fed tightening and the continued jawboning on the part of various Fed governors seems to have had an effect. Longer term maturities now have gradually increased in yield, and if we return to a normal yield curve, where longer term Treasuries yield more than the shorter term, it will mean increased interest expense across the board. Although over the longer term, overall interest rates may remain lower by historical standards, it will still mean our debt and continued Bush deficits will have to be serviced by higher rates of interest than in the immediate past years.
This may be why the deficit is currently of lesser concern. Unfortunately, we are dealing with very large sums of debt financing and even small changes in the prevailing interest expense can have profound effects upon our current accounts and future budgetary considerations.
Um. Ok. Yeah! I totally agree! He's absolutely right. It is indeed why the deficit is currently of lesser concern. Especially the part about longer term maturities now having gradually increased in yield. I know when that happens I just don't seem to worry about the federal deficit at all.
But that doesn't mean I don't worry about my own personal deficit, which brings me to another point. The image you see above is actually printed on a beautiful cream Strathmore cover stock and measures 9 1/2" x 13 1/2. We've got 100 of them. I would call them posters, but I prefer to think of them as finely engraved, highly conceptual lithographs. Where a pressman, who's father was a pressman, and who's father's father was a pressman, dedicated to his craft, upholding the family tradition, slaved over every press sheet, loop in hand to make each one the glorious masterpiece that each truly is.
Each are numbered and signed by the artist and await a new home.
AND YOU CAN GET YOUR VERY OWN TODAY FOR JUST $10! THAT'S RIGHT! FOR JUST $10, YOU COULD BE THE PROUD OWNER OF A MASTERPIECE! JUST IMAGINE! WITH ONE OF THESE HANGING IN YOUR OFFICE OR FAMILY ROOM, YOU WOULD BE THE ENVY OF YOUR FRIENDS AND FAMILY!
THEY'LL THINK YOU'RE FUNNIER, SMARTER...SEXIER!
WOMEN WILL LOVE YOU AND MEN WILL WANT TO BE LIKE YOU. AND IF YOU'RE A WOMAN, VICE-VERSA! WHO DOESN'T WANT THAT? YOU CAN HAVE IT ALL! JUST $10 EACH!
IT'S SO EASY! JUST EMAIL BLUE GIRL AT BLUEGIRLBLOGGER@YAHOO.COM TO PLACE YOUR ORDER!
BUT YOU HAVE TO ACT SOON! EACH JUST $10!* DON'T WAIT! GET YOURS TODAY!
I opened his wallet and there was a whopping twelve bucks in it.
"Hey! I thought you said you had a lot of cash? There's only $12 in your wallet!"
"Well, how much did you have before you took my $12.00?"
"Well, compared to *none*, $12.00 is a lot of money!"
Now that's an economics lesson I can understand.
Thanks to Ezra Klein for the links.
*While supplies last. Hurry! Order yours today!