We can't borrow our way out of debt any more than we can dig our way out of a hole by digging deeper. We've been trying that for far too long. The 'trickle down' theory doesn't work either. Grandma was right. Buy only what you need (not what you want). Save. Pay cash. It worked for her & Grandpa and they were never in need of anything. Paid cash for both the houses they lived in. He was a meter reader for Columbia Gas company & she was a home-maker with 2 kids at home. Never financed anything. The government could learn a lesson from Grandma.
After all, it's what you learn AFTER you know it all, that counts!
I agree. And I think a lot of American's are waking up to this recently, with the hard times people realize all the extra spending they've been doing and are cutting back.
But, the problem is, trying to right the ship in the middle of this hurricane... is not easy. To keep up the sea metaphors, if you turn the ship straight into the oncoming wave it might make things pass faster. That is what they are doing with printing money. But the waves keep coming and coming. Someone needs to take note we're going to run out of gas, and even though it's a lot harder, we should turn the ship around and let the waves carry us to safety (this would represent building an economy on strong fundamentals, not printed money, in my now ever growing sea analogy).
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