We've been hearing for some time now, in order to keep the government funded, the debt ceiling must be raised. The reality is when referring to the national debt, we've already made it a very deep pit and the House is wanting to dig the hole deeper . . . a lot deeper.
When speaking of trillions, our minds just kind of glaze over at all the zeros. This so-called "raising the debt ceiling" can be easily described using numbers more along the lines of our household budgets. For the sake of mathematical simplicity, I'll choose $50,000.
Here is where we are. We have an income of $50,000; with expenses of $60,000, plus our credit cards are all maxed out, so we're basically just trying to stay ahead of the interest. Now, here is the plan from the House. In order to continue to pay the minimum payments on the cards that are maxed, raising the debt ceiling is comparable to taking out two new credit card accounts. One to pay the minimum on the other cards and one to make new purchases.
Raising the debt ceiling is just digging the debt pit deeper.
