This reminded me of a book

in particular a certain statement by a certain character. The book is part of The Vorkosigan Saga, written by Lois McMaster Bujold. If I am remembering correctly the quote is by the Komarran who Emperor Gregor has his eyes on where she discusses how people want to "Eat their seed corn" when it comes to taking taxes out of the planet Komarr. If I could remember exactly the quote I would link you to the book at Amazon, but my brain has failed me. However back to the article I read. It discusses some issues with our current economic situation.

I will excerpt just a little bit, then direct you to the original article.

"I have frequently admitted to being simple minded. While the world's economic and financial systems are enormously complicated, it seems to me that the bottom line is not complicated at all. Governments, like private corporations and individuals, have assets and liabilities. When the first is larger than the second, the question is what to do with the surplus. When the second is larger than the first, one must do one or more than one of three things: somehow increase assets and/or diminish liabilities, or default (or declare bankruptcy), or borrow the difference.

The last is the least painful in the short run, though it means increasing liabilities over the long run. That requires that there is someone you can borrow from right now. That in turn means that someone has to be running a big enough surplus to cover your shortfall. The current world crisis seems to be the result of a simple mathematical fact: there is simply not enough surplus in the world economy to cover all of the world's debts."

I strongly suggest you click the above and read the whole thing.