Sober adults live within means; rising debt shows they're a minority. Spending likened to drunken sailors shows lack of self-control, now applicable to the U.S. government.
What Do You Do with the Power-Drunk Government? Interest on U.S. debt now $1.2 trillion per annum, was $658 billion in 2023 and $476 billion in 2022 Thu, 12 Dec 2024 18:35:43 GMT https://petermcculloughmd.substack.com/p/what-do-you-do-with-the-power-drunk The surest sign of a sober grownup is that he lives within his means. The proliferation of every class of debt in the United States—from individual credit card consumer debt to the U.S. federal government debt—is the greatest macro indicator of how grownups in this country have become the minority.
The old saying, “He spends money like a drunken sailor in port” is rooted in the harsh reality that, for most of history, most sailors were confined to their vessel for months on end, locked in a life of harsh drudgery. Thus, when they got shore leave in an interesting port, they naturally wanted to spend all of their money on fleeting pleasures before they were forced to return to their lives of isolation, hard labor, and forced celibacy.
I propose changing this old expression to, “He spends money like the power-drunk U.S. government.”
The following charts tell the tell of a completely out of control government, possessing no greater self-control, discipline, or sense of duty than a press-ganged 17-year-old English sailor on shore leave in Port Royal, Jamaica—shortly before the earth quake of 1692—after consuming three pints of rum and entering a brothel.
Heaven help us.
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