It's not just Uncle Sam...

...who's belatedly figuring out that debt isn't a small consideration:

The Philadelphia School Reform Commission moved Wednesday to borrow $300 million - money it needs just to pay teachers, heat buildings, and buy books for the rest of the school year.

It's the second time in a decade the district has had to borrow money to keep schools open - the last deficit financing occurred in 2002 - and officials say the school system's credit card is maxed out.  "Some people think the solution is that we can just keep borrowing, and we really can't," Ramos said.

A failure to cut costs as it shrank was a factor; certainly big cuts in state and federal revenue and the brutal economy have contributed to the fiscal woes. But Ramos has acknowledged that "poor fiscal policy" - too much borrowing, too much spending on the part of prior administrations - also landed the district in its tight spot.

It seems few people at any level of our nation remember the idea of putting money aside for a 'rainy day.'  When you get used to spending all you make, then maxing your credit on top of it, there's nothing in reserve for when things turn sour.  

Or, as appears increasingly likely, stay sour for a long, long, time...