From Kos:
Does … any of the idiot conservatives who repeat this nonsense ad infinitum [that families have to balance their budgets] have any clue how people manage their budgets?
They use credit cards, which is debt.
They get mortgages, which is debt.
They get student loans, which is debt.
They get car loans, which is debt.
And let’s not get started on businesses and their leveraged debts.So if Republicans want Washington to act like American families do, then we’re already there!
And now lets put numbers to this story to show you how ridiculous this GOP talking point is:
U.S. household consumer debt profile:
Average credit card debt: $15,266
Average mortgage debt: $149,667
Average student loan debt: $32,559vs Income:
$44,389
So, if we balanced the budget the same way households do, the federal debt to income ratio would be:
78/22 = 3.5/1
But it’s currently approximately 1.7/1
So, if the Republicans actually meant what they said, we should be on a debt spending spree like never seen before in the history of the nation.