You can't live like the government!

With all the news of "stimulus" and Congress spending money like there's no end in site I thought I'd give my two-cents worth on the subject.

The government's not much different than your home budget, minus about 30 zeros. The reality is someone will be responsible for the debt the government incurs at some point in the future. The government may never totally pay down all the national debt but there is a limit to how much money the government can borrow and here's why:

If you, the average citizen, spend $100,000 dollars a year and make $50,000 dollars a year you have a budget deficit of $50,000 dollars.

As long as you can manage the debt payment.....for the government interest on the national debt...you're ok.

But one day, you won't be able to afford to spend $50,000 more than you make. You won't find any banks to lend you money because they know the risk is to high of you defaulting on the debt.

Well, the government's been spending more than it takes in for decades. Yeah, there was one or two years in the 90's where the government ran a slight surplus. But that is chump change to what is coming down the road.

The current President is proposing spending close to a TRILLION dollars more than the government brings in for the next fiscal year. That's "T" for trillion dollars. I don't have my calculator handy but I doubt I could put that many zeros in it.

And that's the point. It's time to spend less than we make and the government needs to follow along with the average citizens of the U.S.

My point:

You can't borrow forever no matter if you are the government or an average citizen.

You'll go bankrupt. And so will the government!

David...