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Hornberger's Blog


The False Default Scare

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Let’s assume that I am earning $5,000 per month and that I have the following monthly expenses: Mortgage Food Car Clothing Interest Entertainment Other Total $1,000 1,000 1,000 1,000 500 2,000 2,500 $9,000 Do you see the problem? I’m bringing in $5,000 a month and spending $9,000 a month. That’s a deficit of $4,000 a month. That’s precisely the problem facing the federal government. It’s spending a trillion dollars more than what it’s bringing ...