if every American were allowed to constantly raise their limit so they could spend more? We sure couldn't keep spending that's for sure!
I agree.
I've often thought that what our federal government is doing is the equivalent of a person having an interest-only home loan, who is borrowing money just to make the monthly payments, *AND* withdrawing an additional $1,000 a month in cash advances every month.
That is unsustainable.
And likewise, so is our national situation. Even what the Republicans are offering is just to reduce (not eliminate) the annual deficit.
Which, using the same metaphorical home loan example, is like continuing to borrow to pay the interest-only loan, and reduce the monthly cash advances to $300 a month. Which is still unsustainable.
Whereas the Democrats want to do the equivalent of borrowing to pay the interest-only loan, while raising our cash advances to $1,600 a month.
We need a president, senate and congress who say we only spend what we have revenue for.
And bring our deficit to zero.
Not in 3 or 5 or 10 years, but
this year. And beyond that, begin paying down our debt. The interest alone on the current debt exceeds 400 billion a year.
