I do not accept the notion that profit and loss apply to the government because they do not produce a product, etc.

How many households in America produce a product?
It would be fair to say almost none (Isaid ALMOST!)......or most do not. However they are confronted with the same actions to balance a budget and not spend more than comes in (call it anything you want....it is whatever income/revenues/sources of cash/etc.

We are all subject to the same rules of accounting whether a household, small business, fortune 500 company or government(s)........none can spend more than there is coming in to cover the bills.

It is just that simple.

I have said this before and I will continue to say it until some that don't get it start to see why....

If you were spending more money at your home each month than you have coming in at some point you would have to do something as the laws of accounting as well as the laws of the land will not allow one to keep spending what they do not have.

However, what if you had the same ability as the federal government to spend as much as you want

........ not have to worry about paying it back

......or how large the amount owed grows to be

.....and you are allowed to borrow what you need to make the payments

.......and there is no limit on how much you could borrow.

.......and if somebody gets a little upset they might threaten to shut you down but as usual for and excuse or two you will get even more money and continue as you have been spending


OUT OF CONTROL!!!!!!!!!!!!

So do not delude yourself that the same rules of balanced budgeting do not apply to the government....it could (COULD!) suggest one does not understand basic finances.

I have copied/lifteda sentence from Personal Best Regards post and feel obilgated to repeat it as it is so profound and accurate:


The political class have come to believe that they are the privilege class and that's a serious problem. Do you see them on Obamacare?