Bruce_Bitenfils wrote:
cry of the banshee wrote:
"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level we can understand." - Dave Ramsey
So, in a situation like this, what would make more sense?
a) Keep spending and borrowing
b) Bite the bullet and cut your spending and borrowing and live within your means
c) Ask your employer (the taxpayers) for a 50% wage increase in a fucked economy (keep in mind that you are inept, irresponsible and inefficient, barely (if at all) able to fulfill your duties on time and your boss knows it)
This example doesn't take into account that a country can't really go bankrupt as a household or a company can, but in this situation my favorite solution would be :
d) First, cut your spending down to $65,000 a year and temporarily raise taxes (i.e. get a second job) to match the spendings, and then later, see if you can break even at $58,000.
But as you said, Americans are not fond of taxes, so... b) obviously. A second-best choice, I'd say.
Our credit rating is shot, for the first time ever. I would imagine that it will make it harder for the US to borrow and it (the FED) will raise interest rates, hurting average people. And jobs will suffer even further.
I intentionally left out a "d" choice of combining tax increases and cuts, because like you said, we are not fond of tax increases.
And raising tax on the wealthy is not what this country is about. Class warfare has no place in our politics.
And getting a second job is a false analogy. The government is not proposing taxing other countries, i.e. a second source in "income.
Using the household analogy again, is it ok for that same household to just steal from those that have managed to succeed and accumalate wealth?
It's not their fault you (the household, not you literally) are incompetent and reckless in your spending habits, is it?
