Politicians in Washington D.C. sometimes make the issue of whether or not we raise the U.S. debt ceiling sound like an essential and complex challenge, one that only their particular brand of political maneuvering, posturing and compromise can rise to meet. But from what I can tell, there's actually some fairly simple financial math involved, and the implications for the state of our nation are fairly straightforward.
But more importantly, the conversation about raising the debt ceiling is the wrong conversation to be having.
I'd like to present those observations, but instead of referring to "the U.S. Government" every time, I'll just refer to this guy "Sam."
Please tell me if I'm wrong or over-simplifying:
- Sam consistently spends more money than he makes. This means that Sam will always be short on cash, and that his lifestyle is by definition unsustainable.
Continue reading "The U.S. debt ceiling: Sam needs an intervention"