Good column by Mitchell.
The easiest way to grasp most problems in economics is to apply them to a typical family. What is true for the family of four is also true for the country as a whole.
A family that is way over its head in debt, for example, cannot solve its debt problem by taking out a few more lines of credit. Neither can the government, by increasing the national debt.
A family cannot "spend itself rich." Neither can Washington, DC.
A family that prints fake money on its basement printing press, should go to jail. So should those in Washington who do the same thing.