Tweety22 Wrote:
Feb 12, 2013 11:02 AM
Keep in mind what happens to a homeowner who keeps borrowing more and more money each year without ever paying any of his debt down. Yes, a mortgage is repaid somewhat slowly (15, 20, 30 years are typical) but what's happening to the country' s debt can't be compared to a mortgage, which has a definite amortization and paydown period. Also, there are immediate, tangible consequences if a homeowner misses too many mortgage payments. There are no such consequences for politicians (personally) who over borrow and overspend.