Uh, Bedlamite, this guy's from your area. I hold you responsible.
Yes, Mr. Griffith, families borrow money to buy cars, etc. However, a family doesn't borrow 40 cents of every dollar it makes, unlike a certain government in DC I know of. Besides, if borrowing helps our economy grow, why don't we borrow $100 trillion and really get the economy zooming?
BUDGET
Borrowing helps economy grow
A balanced-budget amendment has appeal to many people. They may say "my family lives within its budget and we don't spend money we don't have, so the government should live within its budget, too." The Journal Sentinel staff editorial pointed out that "the nation's finances are not comparable to a household."
Neither one of those statements is completely true. For example, if you have ever taken out a loan for a car or you have a mortgage, you have spent money you don't have. Borrowing is what helps people afford things they otherwise don't have enough cash for. It is a standard part of the world's economic system for families, corporations and governments - it helps economies grow and helps the average person to be able to become middle class.
It is what helped the United States' economy pull out of the complete nose-dive two years ago and stave off a depression. This is why moderate Republicans, Sen. John McCain and others have tried to talk sense to those tea party members who are promoting a balanced-budget amendment - an amendment that would make it illegal for the U.S. to ever borrow again.
Steve Griffith
Sheboygan