Check your country's bank statement

I live in the USA and always check my country's bank statement. You should check your country's bank statement too, to see how things are going. This is the US statement as of 31MAR2010.



https://www.fms.treas.gov/fmsweb/viewDTSFiles?dir=w&fname=10033100.pdf



If you don't know what the line items mean, you should. After all, it is your money.



One particularly important segment is Table III - C Debt Subject to Limit. Think of it as the self-imposed credit line established by the government. Unlike you and me, when the government reaches its debt limit it simply votes to increase the limit. In the US, this was done on 12FEB2010.


The point -- On average, the USG borrows $152B every month, which means that in roughly 10 months it will once again be bumping up against the debt ceiling.

But then again, it is only debt if you plan to pay it back. Right?

Do you think the Citizens of the PIIGS are checking their country's bank statements?