How Does an Unlimited National Debt Burden Ceiling "Help" The USA ?

Vanity, pure vanity. | September 2, 2011 | Graewoulf

[Graewoulf]

Noted unprofessional economist, Paul Harvey once said, " WHEN YOUR OUTGO EXCEEDS YOUR INCOME, YOUR UPKEEP WILL BE YOUR DOWNFALL. " That was fine back in the day before we had credit cards, but now we know that " Change [ read: Keynesianism ] has come to America. " At least that is what Professor You Lie said back in January, 2009.

Well, here we are in September, 2011 and 4,000 billion dollars poorer, and still the basic question remains: Are we better off poor and freed from being "To Big to Fail" like those bad old private companies we DID "help" in 2008, 2009, 2010 and 2011 ?

Or, would the idea of living within our income have put America in the very dangerous position of becoming " To Big To Fail " like those bad old private companies that we DID NOT "help" in 2008, 2009, 2010 and 2011 ?

Of course, at least one of these questions are impossible to answer since it falls into the " couldah-wouldah-shouldah " category. However, we can learn from history: " Those who cannot learn from the lessons of History are doomed to repeat them. " ( President Harry Truman )

So, for the sake of our Grandchildren's financial future, should we gleefully increase our National Debt Ceiling, or just live within our means?

How you answer may determine the key to the dreaded " To Big To Fail " smokescreen.

[Graewoulf]

“( - - - Or, would the idea of living within our income have put America in the very dangerous position of becoming “ To Big To Fail “ - - - )”