Sunny Morning News

Remember I said that about mid-year this year Americans (those who pay attention that is, a number that I think is increasing daily) will be shocked to the their cores about the terrible state of our country's finances? Take a look at this chart. I think it is going to be worse than this, which is going to make the second half 2010 version of this chart truly nightmarish. What brought all this up? This editorial.

UPDATE: One more graph. Look how the light blue line is projected to zoom above the long term average recepits (lower right of graph). This is called "fantasy".