Helpful Chart Illustrates the Detroit-ification of America

The national treasure known as the Heritage Foundation posts this helpful infographic contrasting the plight of Detroit with that of the United States (via Katie Pavlich):

Unlike Detroit, the Federal Reserve has the option of printing its own currency whenever it needs it. This takes the form of "monetization of the debt", financial repression, and other measures that generally mark the precursors to a financial collapse.

In plainer terms, the average American family of four is on the hook for about $800,000 in payments to others. We refer to this madness as "redistributing wealth", the Cloward-Piven Strategy, or simply Obamanomics.

Anyone who thinks this is sustainable, please raise your hand.

Put your hand down, Krugman, you schmuck.


Hat tip: BadBlue Money News.