(no subject)

[0utlaw-immortal.livejournal.com]

Comments

[theweaselking.livejournal.com]

Gee, it's almost as if a national goverment bears *no useful relation* to a household.

Who could possibly have imagined?

[unnamed525.livejournal.com]

Bazinga!

[theweaselking.livejournal.com]

And, I mean, that leaves aside that even if the analogy wasn't INHERENTLY stupid, it makes the error of equating "raising the debt ceiling" with "raising the limit on the credit card".

No, "raising the debt ceiling" is "paying for things you've already ordered". In that particularly bad analogy, "raising the debt ceiling" is MAKING PAYMENTS ON THE CARD, instead of just saying "screw it, I'm not paying, they can send it to collections".

The reason it doesn't *seem* like "raising the debt ceiling" is "making payments to avoid collections" is because, say it with me, the analogy is terrible and anyone who claims otherwise is ignorant or malicious.

[farchivist.livejournal.com]

Also not mentioned: for ever $1 of debt the US owes, we are owed $.89 from various foreign governments on their debts to us.

[wight1984.livejournal.com]

I can see a useful comparison if we broaden it a bit.

Going into debt so you can have a holiday is a bad idea, but going into debt can sometimes be okay even in a household provided that it's for good reason, such as a business loan for a profitable venture.

Meanwhile, reducing spending to get out of debt works if we're thinking about luxury items, but doesn't work if you're a commuter and you sell your car in order to avoid having to pay for car tax or petrol.

Basically, all economics is more complicated than the original post seems to be suggesting.

[catlin.livejournal.com]

there you go with that nasty common sense again...

[aviv-b.livejournal.com]

Lesson #2 - I curse the government for not keeping the sewers in decent repair and then I remember that they are too busy stripping money that used to be granted to states for building roads and sewers in order to giving millionaires tax breaks.

[foolsguinea.livejournal.com]

How is government spending "shit"?

[brother-dour.livejournal.com]

You know, I agree with OP about cutting spending.

But I bet we will not agree on where to cut it (I'm looking at you, Big Business subsidies and defense budget...)

[liliaeth]

Yeah, considering where the US is spending most of their money, I'd suggest cutting the defense budget in half, it would probably solve most if not all of their debt problems.

[peristaltor.livejournal.com]

Debt≠shit. Government debt=money.

Household debt v. Government debt is not an apples and oranges comparison. More like whipped cream and ebola.

[harroldsheep.livejournal.com]

$ 6,820 of that household budget is for bullets and a new electric fence.

[sable-twilight.livejournal.com]

And payments, gas, and repairs on the multiple hummers the family keeps buying...

[sable-twilight.livejournal.com]

Cutting back on spending?
Great idea.
I propose we start with military spending.