Tuesday, June 18, 2013

Time to Stop Spending

The figures John Stossel used in the Kingsport Times-News for Friday, June 7, 2013, are worth repeating for those who didn’t read the paper.

Say we have this uncle whose latest fnancial statement shows that:

(1) He’s $167,600 in debt.

(2) He expects his cost of living for this year to be $35,370.

(3) He expects his income for this year to be $24,500.

And (4) He wants credit for another $10,870.

Does he need financial counselling, or what? What about a financial intervention?

These are, Stossel reports, the proportions of the U.S. federal budget (only the federal budget adds eight zeros to each number).

Now you know why, liberal though we are, this web site maintains that we as a nation have to stop spending so much money. There's "liberal" spending and giving, and then there's "insane" spending and giving.