These dumb*sses in Congress are starting to view it like having a mortgage... You may only make 60 or 70 grand a year but you can buy a $300,000 house and mortgage it
They honestly believe they can have a 300 to 400% debt to income ratio
for that analogy to be appropriate, the income would be tax revenue (~6 trillion) and the
house price would be our national debt ($29 trillion)
adjusting for the analogy...
a mortgage of ~$300k on an income of $60k would be barely sustainable.
the home owner would be expected to pay ~5% interest which yields roughly $17k/yr in payments.
for that to work, we’d have to reduce our spending by almost 30%... which never happens
the proper analogy is more like a credit card.
15% interest.
and more applied to the card in a year than paid off.
resulting in ever increasing debt.