Government Credit Cards

Assume your monthly expenses are $2000 a month. Imagine if you put 40% of that, namely $800 of that, your rent, on your credit card, month after month. How long would it be before your bank gave you a call that you were over your limit and they wanted the outstanding balance paid forthwith and that they were bumping up your interest rate by 2% since you were no longer a preferred customer. That is what the USA is doing, borrowing 40% of its expenditures each year. What could you do personally to get out of a pickle like that? You have to either earn an additional $900 a month, or cut your expenses by $900 or most likely some combination of both. You need $100 to pay down your balance, not just freeze it. A country in such a predicament has to cut expenditures, or raise more revenue by closing tax loopholes, prosecuting tax deadbeats or raising taxes. The key is to prioritise so the country keeps the necessities for life and gives up the things it can live without, e.g. optional wars, pork, no-bid contracts, subsidies for healthy industries or corruption.

~ Roedy (born:1948-02-04 age:68)