A thought about raising the federal debt ceiling

Post new topic   Reply to topic Elucidations View previous topic :: View next topic  
Author Message
Scotsman
Site Admin


Joined: 03 Aug 2004
Posts: 705
Location: MadWolf Software

PostPosted: Thu Jul 14, 2011 10:40 am    Post subject: A thought about raising the federal debt ceiling Reply with quote

I got to thinking this morning about the government borrowing 40 cents of every dollar it spends, and it hit me.

What the federal government has been doing for years is using credit cards to pay it's bills. Raising the debt ceiling is just the governments way of getting yet another credit card rather than getting things under control.

We all know where that kind of thing leads in personal finances, and it's the same for fed. It's just a lot bigger numbers and takes longer to hit the wall. But when it all does, it'll be far FAR worse than any personal bankruptcy.
Back to top
View user's profile Send private message Visit poster's website
Victoria56



Joined: 14 Dec 2010
Posts: 21
Location: Pennsylvania USA

PostPosted: Sun Jul 17, 2011 2:25 pm    Post subject: Reply with quote

Makes perfect sense, Scotsman. While I don't profess to have all the answers, your analogy is right on target. Our spending has been out of control for far too long and we're in a bigger mess than most seem to realize. We better cut spending somewhere to get us out of this. It's been quite interesting to watch. One side blames the other while the country is literally at stake.
Back to top
View user's profile Send private message Yahoo Messenger
Display posts from previous:   
Post new topic   Reply to topic All times are GMT - 6 Hours
Page 1 of 1

 
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum