“A man in a forest is digging a hole. Two feet, three feet deep he goes. Soon he is in over his head. Seven feet, ten feet, fifteen, twenty. Now the sky is a small square patch of blue above him and he realizes he is in trouble. How does he get out? He announces his plan: He will keep digging in the hope that he will uncover a ladder.”
I love this analogy.
I read it in a Canadian MoneySaver article written by Wynn Quon called Punishing the Pretenders.
It so aptly describes the fiscal hole that the United States is in.
I don’t think there’s anything else that needs to be said.