Quote:
Originally posted by reconmike
To all the people here that are saying live within your means to the government;
Do you have a mortgage? How about a few credit cards? Does that count as living within your means?
That seems to me like you are running a personal deficit.
A government that runs a surplus is taking too much of my money.
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You point is taken.
In fact I do have a mortgage, I don't happen to have the kind of cash at hand necessary to buy a house cash.
BUT,
Each year I am paying that mortgage down. Not adding to it.
There in lies the difference.
If I ran my personal finances like gov'ts run deficits, each year I would be getting a bigger and bigger mortgage until all of my income went to paying just the interest on my loans and I had nothing left to buy the basics.
That's what I call a bad idea.
Has it gotten to that point yet for the US gov't?
No, absolutely not.......
But, if they keep borrowing money, more and more tax dollars will be defered to pay the interest only.
Someone has to pay the piper for this sometime.