Quote:
Originally Posted by JohnR
The problem is it is like a household making $80K per year and using another $20K on the credit card as income. Now that those credit cards have a $400K balance on them we are talking about taking out only $19K per year on the card.
Howze THAT for an analogy.
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It's a scary analogy, especially in that you left out the worst part. Using your scale, that household (making $80k a year) has also put their grandparents in a nursing home, and given that nursing home an IOU for exactly $2,760,000 that is payable in 50 years. Paying the IOU will require more than 30 years of that annual income of $80k a year.
But Nancy Pelosi says it's a "false argument" to say that family has a "spending problem".