For the sake of simplicity, you owe $1000 this month but you only have $600. You will have to borrow $400 to make it through the month. Now imagine you have to do that every month for the next year. That’s $4800 you will need to borrow to pay your bills for the year. And you know that you’re going to have to borrow that same amount every month for the next year (and the foreseeable future.)
Now add the interest to that $400/month loan, that is if someone or some entity will loan you this money. Interest at 13% (that’s a really good rate on your Visa card) adds $624/year to the balance or $52/month. So now you will owe $5424 for the year.
You know that you can’t pay your bills with the income you have now. You know that you can’t pay your bills without borrowing $4 for every $10 that you spend, or $40 for every $100 or $400 for every $1000. Or as in the case of the United States of America – .40 for every $1.00 that it spends.
What would you do?
You could start by calling your banker or your credit card company and ask them to raise your borrowing limit. Chances are real good they will laugh at you, before telling you no. And anyone with a high school education knows that raising your DEBT LIMIT will only dig your hole deeper in the long run.
So, you sit down at the kitchen table and prioritize. If you’re an average American, you start cutting out all the things you can do without so you can pay for the things that matter, like your mortgage and medicine and your personal yacht.
Then you put a lid or a cap on all your future spending.
No more dinners on Broadway or flying your favorite pizza chef in from Chicago.
No more Spanish vacations in your private jet. What? You don’t have a jet?
No more entertainment like those private Paul McCartney or Stevie Wonder concerts.
Next, you start looking around your house at the things you can live without and sell off. But remember, that’s only going to get you through a month or 2. Eventually, you’ll run out of things you can sell, unless you live in the White House and then there’s an unlimited amount of things of value to sell.
Maybe your Wall Street friends will throw fund raising parties for you. Oh please. Don’t tell me you have no Wall Street buds.
Publish a book with a well known terrorist ghost writing it for you? You don’t know any terrorists? Sucks to be you, then.
You don’t have a $10 million winery in California that you can sell? Oh, sorry. I’d mistaken you for Nancy Pelosi.
This isn’t our life. But we are shouldering the burden for these expenses and all the expenses that benefit everyone else, including and most irritating – the political class.
Most of us would fore go our social security checks for a couple more years. Most of us would be willing to work a couple more years rather than dump these bills on our children and grandchildren. Most of us are willing to do with less or do without to balance our books and not leave unheard of debt for our kids.
And most of us would like to see the ruling class suffering just a little bit with us.
With Wasserman-Schultz (love that hyphenated last name, don’t you?) appointed chairPERSON of the DNC, it’s out in the open now that the democrat party is really the party of communists. And with this appointment, the demise of the DNC is all but assured – or at least I’m praying so.
My God- watch Ryan’s response at about 2:00. It’s priceless:
Someone at HotAir commented that this exchange looked like a couple facing a divorce judge! LOL He obviously cannot stand her – along with many of the rest of us.
Her appointment really is the best thing that could happen to the RNC, unless they had appointed Sheila Jackson Lee (“when America planted the flag on Mars”) or Maxine Waters (“watch out or we will nationalize — er ummm- er — oil companies”).
And you’ll love this at the end when Debbie claims that the term “ObamaCare” is a disparaging tag:
It is time the DNC came out of the closet and admitted they really are communists and stop trying to fool the American voter.
Yes, Rhode Islanders, some of you are ATM machines but only less than 50 of you.
How do those chefs feel about their great dinner being blown off for a walk and pooper scooper with the first dog?
Oh please, read this story about the fabulous menu that was planned for the Head Taco. And drool over your tuna casserole tonight. I’m sure there were many disappointed folks in the mini state by the end of this night, right down to the invitation and menu card designers.
And the Obama marxists call Republicans the party of the rich? Ha!
Furthermore, I’m sure his daughters would be scarred for life if he weren’t there to tuck them in.
But hey! What the hell! He raised over $300,000 for his party.