Government flushes money

As the National Debt Clock strikes $16 trillion this week, I think we need some perspective on the nature of the government’s debt.

Let’s compare government borrowing to that of a typical American family. You may borrow money to buy a newer, more efficient car; the government borrows money to put gas in its tank. You may borrow to buy a new, energy-efficient refrigerator; the government borrows to put food on the shelf. You may borrow for your kids’ education; the government borrows to buy paper clips. You may take out a home-improvement loan to remodel an old bathroom; the government borrows to put toilet paper on the spool.

Americans borrow to invest in their families’ futures and improve their quality of life, and usually increase their assets in the process. Government borrows just to survive. When times are tough, you may put off that bathroom remodel for a while, but how long can you go without toilet paper? Typical of government spending; once they borrow it, spend it, then flush it, they have nothing to show for it. But they always come back for more toilet paper.

Randall Babin

Wallace