I heard on the TV this evening that our national debt is larger than our gross domestic product. We are fast approaching the situation in Greece. If compared to a family that doesn't sound all that bad. After all when I bought my first house, the mortgage was about 120% of my yearly gross income.
The difference is that I never got any deeper in debt, and over the years my debt decreased until I now owe nothing. I never once even considered borrowing to increase my spending. Our government just keeps digging in deeper and deeper.
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