Don't think for a moment that these levels of debt aren't alarming people. PIMCO the world's largest bond fund has already dumped all of its US government debt holdings. Sooner or later the rest of the world will do the same.
So what is our government doing about all of this? Why spending more money on overpriced artworks of course!
US News: A $600,000 frog sculpture that lights up, gurgles "sounds of nature" and carries a 10-foot fairy girl on its back could soon be greeting Defense Department employees who plan to start working at the $700 million Mark Center in Alexandria, Va. this fall. That is unless a new controversy over the price tag of the public art doesn't torpedo the idea.
Decried as wasteful spending that will be seen by just a couple thousand of daily workers who arrive on bus shuttles, foes have tried to delay the decision, expected tomorrow, April 1. But in an E-mail, an Army Corps of Engineers official said that the decision can't be held up because it would impact completion of the huge project. [MORE]Is there no one in government today with a frugal mindset? All across the nation there are talented artists dying for a little recognition. For a fraction of this cost I am sure you could find artist who would be willing to lend the government their work for recognition and a resume boost. This way these government employees could enjoy tons of art work on a rotating basis at a fraction of the cost.
Oh well, at least some of our children will be able to admire pretty artwork as the go about living in the new Third World America.
Via: Memeorandum
Via: The Washington Times
Via: Reuters
Via: US News