Economic Follies

Economic follies are all around us, must be that time of the year.
On a local level how does Wallingford pay for $1 million dollars of union pay raises mandated by an illogical arbitration settlement?
On a state level how does Connecticut pay for $72+ billion dollars of short and long term debt?
On a federal level how does Washington pay for $14+ trillion dollars of national debt?
I can see Wallingford's plan which is the most logical, layoffs and movement of funds. On a state and national level it is more of the same economic illiteracy that we have seen for years. This holiday season politicians still do not get it, there is no more money, spending needs to be cut once and for all.