Friday, March 30, 2007

Wonderful pie chart

The Skeptical Optimist is always enlightening. His debt pie chart should be kept handy because silly things about the national debt are ubiquitous. How much is held by the Chinese (living in China)? 4%. Who holds most of it? The U.S. government? 2nd most? U.S. citizens? 3rd most? The U.S. Treasury. And so it goes. Print a copy. Keep it handy. Take it to dinner parties, etc.

All of this should also be used to beat down the taxers. The tax and the debt should be smaller because government should be smaller. But not because of debt worries.

The power of the market economy is manifested in many ways. It explains our increasing wealth and welfare (and longevity). And it does this in spite of widespread ignorance and politics -- and their mutual affinity.