The Greek Government is a hand to mouth government. The Irish, yeah. The Spanish, too. Even America to a degree, considering its large budget deficit.
Not the Chinese, though. Our governments at all levels are awash with money. They have so much money that it sometimes seems they have more than they can spend competently and wisely.
I am not complaining, though. Nor are our governments at all levels complaining, either, I don’t think, because to have more money than one can spend competently and wisely is a great position to be in. Americans certainly won’t mind finding themselves in this position. They don’t have this luxury, though. In fact, their government has run out of money again at the federal level and currently risks a shutdown. This from The Economist (The risk of an American government shutdown: Time to stop play-acting and spit out the tea, March 31, 2011):
THIRTY billion dollars is a lot of money for anyone except America’s government. In Washington it is a bagatelle: about what the feds spend in three days, or less than 2% of the predicted budget deficit for this year. Yet in the peculiar battle that is now raging over the budget for a fiscal year already half over, $30 billion is all that now separates the Republicans and the Democrats, who have been bickering for the past 14 months over the details. Because neither side thinks it can afford to back down, the risks of a government shutdown are rising fast; without an agreement, the government will run out of money on April 8th.
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