Suppose a family came to you for financial advise. Their present situation is given below.
Projected income for 2013 $ 24,700
Projected spending for 2013 $ 37,900
New credit card debt $ 13,200
Existing credit card debt $153,000
Suppose the family calmly told you that they had no plans to significantly reduce their deficit for 2013 and they expected additional spending to come in 2014 to pay for more health insurance coverage. What would be your response.
Well, replace every $10,000 with one trillion dollars and you have the present financial situation of the US Government.
Please, wake up America!