Tom Abate of the SF Comical has written the standard Black Friday piece about how we all need to go out and shop to bring about the recovery. The headline in the dead tree edition was something to the effect that the recovery depended on us doing our part and buying.

Meanwhile just two days ago the editorial board warned us about the looming threat of the national debt.

Consumer spending on wide screen TV good. Government spending on infrastructure, education and job creation bad.

And where, Wonks Anonymous wonders, are the consumers whose houses have lost value and whose retirement accounts are in shambles going to get the financing for their purchases? Why we will borrow from the Chinese, of course.

Why is a population in debt up to its eyeballs less of a threat than a government that owes lots of money?

Maybe if we went into debt for projects that saved energy and educated our kids we would have something to show besides short term increases in demand. Maybe it would improve our national economy even after the TV was broken.