is our spending? Too damned far.
If the federal govt was an American family, they would have an annual income of $55,000, will spend $96,000 this year and have credit card debt already totaling $366,000.
So they're spending $41,000 that they don't have, which will take the CC debt to $407,000 going into next year, on income of $55,000.
This is so far out of whack it's beyond fixing it by cleaning up waste & fraud. We're now a broke, debtor nation.
Can we fix it? yes, but it's going to hurt. A lot. We're spending almost twice what we take in. To even begin to fix it we have to cut our spending about in half.
On the plus side of the ledger, as a nation we are rich in terms of natural resources & creative, industrious people who have the capacity to do great things. Take off their handcuffs, get out of the way & watch them go.
But the notion that our govt can be all things to all people needs to come to an end.
Will it happen? I think maybe it will, but not willingly. It won't surprise me if we don't keep it up until it just collapses & we're forced to do something.
If the federal govt was an American family, they would have an annual income of $55,000, will spend $96,000 this year and have credit card debt already totaling $366,000.
So they're spending $41,000 that they don't have, which will take the CC debt to $407,000 going into next year, on income of $55,000.
This is so far out of whack it's beyond fixing it by cleaning up waste & fraud. We're now a broke, debtor nation.
Can we fix it? yes, but it's going to hurt. A lot. We're spending almost twice what we take in. To even begin to fix it we have to cut our spending about in half.
On the plus side of the ledger, as a nation we are rich in terms of natural resources & creative, industrious people who have the capacity to do great things. Take off their handcuffs, get out of the way & watch them go.
But the notion that our govt can be all things to all people needs to come to an end.
Will it happen? I think maybe it will, but not willingly. It won't surprise me if we don't keep it up until it just collapses & we're forced to do something.