When a critical mass of America’s debts comes due, who will bail the country out? Panama? Bolivia? Yemen? Without a bailout, what will happen to the global economy when the federal government cannot make good on all its contracts and obligations? Not to worry. Today it is posh for the federal government to blow money it doesn’t have out its ears, redefining waste as job creation.

Exhibit A:

The federal government will give Asheville Regional Airport $300,000 to help the airport lure nonstop service to Denver.

Exhibit B:

Two regional organizations have received an $815,000 federal grant that will support Western North Carolina’s agriculture economy and spur job creation in 23 counties.