Excerpt:
"Let’s compare America to your household. That makes it very simple and easy to understand.
Let’s say you make $50,000 per year…and you owe $250,000 in credit card and consumer debt. You’re in deep trouble, right? One way or another, you are headed for bankruptcy court in the future.
Then you receive a credit line in the mail for $250,000. Are you rich? Of course not. That new credit line or credit card is not “income.” It’s more debt- a loan to be paid back at high interest rates. You didn’t just gain $250,000. You just added $250,000 to your debt. You still make $50,000, but instead of owing $250,000 in debt, you now owe $500,000. You think you’re “saved.” Actually you’re twice as broke as before. Insanity. That’s exactly what Obama is doing to the U.S. economy. He added $6 trillion in debt in only four years to “save” us from a terrible economy. Well he didn’t save anyone. He just put all of us into much deeper debt. This debt will destroy the lives of our children and grandchildren."
Recommended reading:
Americas $17 Trillion Dollar Party - Econmatters.com
