Tuesday, March 08, 2005

Don't Cry for Me, Argentina

When various congressmen and senators say that there's no need to reform social security, that we can meet all our future obligations to Medicaid and Medicare, you have to wonder what they're thinking. This is what they're thinking. Argentina. This country decided to live large, ran up public debt equivelant to 75% of GDP, then told creditors that they would pay 35 cents on each dollar of principle and forget any interest. This must be what those congressmen are thinking about - money for nothing, theft for free.