Before we really start backtracking though, let’s sidetrack. Here’s a brief review of the tragic comedy we find in ourselves.

Last night, one of us imperfect scientists was on television spouting the answer to the American Dream problem. He said that it made sense that we would have to cut spending, or raise income, or print more money, or default. He sat ever so proudly in this wise assessment which is surely on spot.

“The thing is, he said, we can’t default because we’re the richest nation in the world. And, what would that say to our creditors?” Perhaps, we’re missing something here….we’re the richest nation in the world? How is it the richest nation in the world is so deep in debt that it needs creditors? Wouldn’t the richest nation be the creditors to the poorer? And who are these men that write $17 trillion dollars worth of notes to a negative cash flowing nation that balks at cutting even the most trivial line items? Are we in denial? Are the note givers? He followed up saying, “If America defaults, then there is a high probability that the nation will lose its right to just print money to pay its debts”.

Is this counterfeit lunacy or what? Let’s consider this situation personified.

The wife comes home and says, “Enough. We must tighten our belts.”

The husband says, “But, we’ve cut to the bone, the cupboards are bare.”

The wife says, “No, we must change. I’m cutting off everything until you agree.”

The husband says, “Let’s raise the debt ceiling.”

The wife says, “We’ve tried that already and it’s sort of getting out of hand. We’re up to $17 trillion now.”

The husband says, “I hear you, but there’s just no other answers. If we don’t take out another credit card, we’ll be forced to turn on the printing press in the garage.”

What a mess we’ve found in ourselves chasing after the American Dream.