Those of us who received our economics training from “the School of Hard Knocks” often find it very difficult to understand those in control of our government finances whose training is primarily theoretical and driven by a flawed ideology. Our schooling has taught us that raising the limit on a “maxed out” credit card is not a fix for the problem nor is it likely to be allowed by the bank issuing the card. We also know that we cannot take more money by force from our employers or customers simply because we have spent far more than our income over a long period of time.
We are being told that the financial mess created and maintained in Washington D.C. can only be remedied by increasing the “credit card limit” and forcibly taking more money from us taxpayers who are the issuing bank, employers and customers. Since Minnesota is prevented from incurring debt by its constitution, Governor Mark Dayton can only demand more money by force from his employers and customers to support his excessive spending. Fortunately he has no credit card.
Why do we tolerate two completely different sets of rules, one for our government and one for our individual “economies”? If we tried to adopt the government rules we would be given “free” health care, board and room in prison for fraud, extortion and possibly armed robbery.