Terrifying

I think this is one of the scariest things I've read in a long time:

[ Fox News ] Debt Day comes early this year. Unfortunately, it's nothing to celebrate.

The symbolic "holiday," which falls on Sunday, marks the point in the fiscal year when government spending exceeds revenue.

In other words, the government will stop making money and start borrowing on Sunday.

And it's coming earlier than ever, according to House Minority Leader John Boehner, who's pointing to Debt Day as yet another symptom of a government he says is spending too much, borrowing too much and taxing too much. Last year's Debt Day fell more than three months later, on Aug. 5.

My guess is that this isn't even correct. My guess is that we passed that date a while back. The projections were likely due to expected revenue, but tax receipts into the Treasury have tanked.

So, for the rest of the year, every penny the government spends is being borrowed from the Chinese.