Monday, September 10, 2007

You Can't Borrow Your Way Out of Debt.

The title of this post became clear as I watched the Petraeus/Crocker show.

As one who has experienced the cycles of business, early on as a grunt, and later as an officer, some expressions come to mind. Depending on one's perceptions such expressions can be considered truisms or shibboleths.

The one that most came to mind today, as I listened to the Petraeus and Crocker sales pitch for staying the course in Iraq is: "You can't borrow your way out of debt."

Their testimony reminded me of what the Enron executives and their spokespersons said to buy time in what turned out to be the vain hope of avoiding the inevitable collapse of their house of cards.

Lighthouse Keeper

No comments:

Site Meter