much like a dysfunctional family our government needs to balance the budget even if they dont like it

YouViewed/Editorial

Don’t Raise Debt Ceiling Without Balancing the Budget

 

 

 

 

 

” All across America, families are balancing their budgets and even paying off debt. Since the financial panic of 2008, personal debt has fallen as Americans tighten their belts and pay back loans. Some, unfortunately, had to declare bankruptcy because their debts got too big. Washington cannot declare bankruptcy; it must instead follow the example of millions of Americans and cut spending to live within its means.

Most state governments, likewise, have managed to balance their budgets, even during these hard times. A few states, notably California and Illinois, continue to follow the federal government’s profligate example. A few raised taxes to get their fiscal houses in order, but most simply reduced spending. Several very large states with financial challenges, like Texas and Florida, balanced their budgets without any income tax at all by reducing spending. They…

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Categories: business basics
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