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Scotsman Site Admin

Joined: 03 Aug 2004 Posts: 705 Location: MadWolf Software
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Posted: Thu Jul 14, 2011 10:40 am Post subject: A thought about raising the federal debt ceiling |
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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. |
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Victoria56

Joined: 14 Dec 2010 Posts: 21 Location: Pennsylvania USA
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Posted: Sun Jul 17, 2011 2:25 pm Post subject: |
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| 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. |
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