Economics 101 Class Is Now In Session

The National Debt Clock near Times Square, New York
Wednesday, October 8, 2008
In the midst of the financial tailspin we now find ourselves in, the National Debt Clock in New York City ran out of digits midweek to record the growing figure. As a temporary fix, the dollar sign was switched to a figure — the ‘1′ in the now over $10 trillion dollar national debt. The Durst Organization, which takes care of the sign, says it plans to update it next year by adding two digits.
That means the updated National Debt Clock will be capable of tracking debt up to a quadrillion dollars!
If that doesn’t scare you, I don’t know what will. I don’t even know what a trillion dollars is, let alone a quadrillion! The late Manhattan real estate developer Seymour Durst put the sign up in 1989. At that time his intent was to call attention to what was then a $2.7 trillion debt. Apparently those in positions of government leadership don’t care about the debt, nor did the sign catch their attention. If the sign caught their attention, we should now be debt free!
With this in mind, while I’ve said it before, I will say it again, I am NOT an economist, but I can certainly figure this out.
So listen up governmental leaders…
The Economics 101 Class Is Now In Session!
Read on …