The ?trillion-dollar budget numbers make sense when you divide them ?by America’s 100 million families.? The federal budget of $3.5 trillion taxes $28,000 per family, spends $35,000, and borrows $7,000.
In 2011, Republicans compromised when our government’s credit card was maxed out at $142,000 per family. But the tax hikes and puny “sequester” cuts didn’t do much, and our credit is maxed out again at $167,000 per family.
Democrats and some House Republicans want to raise the debt limit again and keep borrowing.
As a lawyer who did bankruptcies for 36 years, I never advised a family with yearly income of $28,000 and $167,000 in credit card debt to refinance and borrow more.
When Steve Lonegan was mayor of the mid-sized town of Bogota, he challenged? the massive borrowing plans of both Republican Gov. Christine Todd Whitman and Democratic Gov. Jon Corzine. Controlling government spending is the biggest problem facing America today. If Lonegan upsets Cory Booker in the special election today ?(Wednesday, October 16), our business-as-usual politicians might get that message.?? Seth Grossman