eddie again Wrote:
Feb 15, 2013 10:34 AM
to use the popular but flawed analogy of comparing federal budget to a family's budget, the feds are a family that is living high on the hog by using a credit card. if that family stops using the credit card, its economic activity must shrink. if the family continues to increase its credt card debt, one of two things will occur. it will either reach a point where its revenues cannot service the debt or (and the more likely occurrence) no one will loan the family any more money. the first is unlikely to ever occur because the second will prevent it from occurring. however, in both instances, the family's economic debt enhanced economic activity will cease. the family will be forced to lower its standard of living.