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View Diary: If Robert Reich Screams In The Forest . . . (121 comments)

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    aliasalias, Heart of the Rockies

    The mortgage analogy is the best.

    The total national debt is not even 100 percent of GDP.  Most people owe double (or more) their annual income (200 percent) on their mortgages.  The money the government spends is, by and large, money well spent, and since the government can always create more money, thereby diminishing the value of its outstanding debt, 100 percent of GDP's worth of national debt would not be outrageous, even by the standard, "If it were your family..." false analogy.

    Ask someone if the outstanding balance is more than their annual income next time they pull that tired old, "the government should spend within its means just like my family" song and dance.

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