Posted by
Tom L. on Tuesday, May 12, 2009 6:00:00 AM
Could you remind me again how we got into this financial mess?
Was it not people spending money they did not have?
According to the AP:
For the current year, the government would borrow 46 cents for every dollar it takes to run the government under the administration's plan. In 2010, it would borrow 35 cents for every dollar spent.
By this calculation, if I were making $54,000, I would be spending $100,000 this year and borrowing $46,000.
But not to worry, next year will be much better; I will only have to borrow $35,000.
This assumes I don’t spend more, which seems an illogical assumption given the socialists in charge of our government.