Raise the debt limit
This video illustrates the analogy I made a few weeks back. Republican or Democrat, you should watch this video all the way through. If you are an elected official please watch it several times. Better yet, watch it until you can recite the lines before they are spoken. I want you to understand the mess you’ve created and refuse to get us out of.
At the end of the video they display the numbers. Lets take another look:
Total Household Debt: $140,000 Household Income: $21,700 Household Spending: $38,200 Additional Debt*: $16,500 Amount Cut: $385 -about 1% of the total budget
This chart dissolves to the U.S. situation:
Total Federal Debt: $14,000,000,000,000 Federal Income: $2,170,000,000,000 Federal Spending: $3,820,000,000,000 Additional Debt*: $1,650,000,000,000 Amount Cut: $38,500,000,000 -about 1% of the total budget
* The video incorrectly labels this as “New Debt” it is not the new debt as that would equal Total Debt + the requested debt limit increase, I corrected this value in both charts.
Understand history and maybe you’ll avoid repeating it
Now pick up a history book on the French Revolution. Every elected official in modern America should become very conversant on this topic. France in the late 1780s was a nation with run-away debt, loose adherence to and even antagonistic attitudes toward religion. This resulted in a revolution rooted in atheism, dissatisfaction with the government, economic collapse, and a government unable to control or change its course.
When there is a total financial collapse, society will also collapse. The arrogance that always leads to this result is the attitude, it’ll never happen here.
Keep forcing our unborn grand-children co-sign the loans and the result will someday either resemble France, 1794, or Germany 1933.