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Nw Iowa | I think the issue is, it is like a married couple that wife continues to spend the credit card beyond its limits every month, husband says if this is to continue we have to make some cuts, wife say I really need more. So far the wife has won every time and debt is starting to affect everything. Tall Pines is right to a point but reality is that there will just be more spending so it never enough. Minnesota had a huge budget surplus and now next year they increased budget 25% and we will have a budget deficit. So that is the problem. Politicians just use spending policies to get elected but the reality and especially now with increased interest rates, this thing is starting to get way out of control but rather than tightening the belt some, current administration is on a social spending spree. The trouble with social spending is that it is never enough versus like spending on a bridge or deepening a waterway both increases economic benefits and with a bridge or other infrastructure improvement has a end date when that particular item is paid. | |
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What's the big deal with the debt celling?
