Saturday, January 14, 2012

Obama has proposed a budget that will cut the National deficit in half over a 5 yr. period ...?

What I don't understand is this. Let's say I don't have any cash. I go out and run up my Visa about $10,000 this year. Next year, I run up another $10,000. This occurs again in yr. 3, 4 and 5. I've effectively ran up $50,000 in debt, but I'm only able to pay off $25,000 in that time. Well, I've effectively cut my deficit in half in 5 years, but I still owe $25,000. I did good, right? Not really. I started with no debt, now I'm up to my a s s and elbows in debt. Granted, the country isn't starting at zero balance, but you get the idea. Numbers can be manipulated any way you want.

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