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"The problem with socialism is that eventually you run out
of other people's money."

—Margaret Thatcher


With a projected $1.8 trillion deficit for 2009, several trillions more in deficits projected over the next decade, and with both Medicare and Social Security entitlement spending about to ratchet up several notches over the next 15 years as Baby Boomers become eligible for both, we are rapidly running out of other people's money. These deficits are simply not sustainable. They are either going to result in unprecedented new taxes and inflation, or they will bankrupt us.

The linked Wall Street Journal article above was written by John Mackey, the founder and CEO of Whole Wallet Foods (I mean, Whole Foods). Dude has some constructive suggestions on fiscal policy and health care, a few of which will be familiar to readers of this blog and a few of which are new.

Worth a look, albeit I'm afraid purely academic at this point. Everything they're doing in Washington seems headed diametrically the opposite direction.