Broken Arrow Family Drug blog
Unending debt is unsustainable
You’ve reached the edge……again. You and your spouse are sitting at the table with all of your bills scattered across. Every year or so, the same thing happens, but you’ve never really wanted to face it.
The math is unavoidable. For several years now, you’ve spent more than your income. It’s the result of many good intentions, but now you are in a position where you realize that there are many promises you simply cannot afford to keep –
· You’ve been giving Mom a few hundred bucks a month, because without it, she simply won’t be able to make ends meet.
· You’re paying the kids college bills, so they don’t have to work.
· The neighbor has been having some trouble, so you slip him a few bucks just to help.
You look at the rest of your monthly bills –
· Your house payment
· Your car payment
And then you see the rest of the expenses –
· Subscriptions to various magazines
· The cable bill
· Eating out at restaurants every evening
· A cell phone for every family member
Until now, you’ve been able to avoid the inevitable by paying with your credit cards. When you would max out one, you would just apply for another. You’ve kept up with the minimum payments, so it hasn’t hurt your credit…….yet.
And now, you’re against the wall. You sit down with your paycheck. You make $6,000 per month. You add up all the bills. They add to $10,000 per month. You’re faced with two choices – do I pay for just the necessities, or do I apply for yet another credit card?
This is the dilemma facing our federal government.
Before August 3, our government has some difficult choices to make. They have been spending 40% more than their income, and the bill is coming due…..again.
Folks on the left are framing the debate as not having enough money to pay for the necessities without asking for more debt. What the left won’t tell you is what they consider to be necessities. WE HAVE PLENTY OF MONEY TO PAY FOR THOSE THINGS SANE PEOPLE CONSIDER THE NECESSITIES.
The government will not stop receiving income (taxpayer money) on August 3. They will only have run out of money on the credit card to pay for things.
The government will have enough money coming in to pay for –
· interest on the debt
· Social Security
· Military pay
The government WON’T have enough money for –
· paying folks to hold up a shovel on a road construction site
Failure to raise the debt ceiling will not cause a catastrophe UNLESS PRESIDENT OBAMA WISHES IT TO CAUSE A CATASTROPHE. He will have plenty of money to pay for the essentials. The choice is his as to how he will spend it. Will he spend it on the essentials like Social Security, Medicare and interest debt? Or will he decide he wants to spend it on keeping his constituencies happy, while pointing a finger of blame at those dastardly Republicans?