Living on credit cards and not having a clue: Question of Further Fed Action to be Answered by Bernanke - Barrons.com

Question of Further Fed Action to be Answered by Bernanke - Barrons.com


The question that seems either to simple or banal is to ask if there isn't some type of similarity between an economy (like a household budget) that maintains its spending (by government) by borrowing roughly 42 cents of every dollar isn't going down the same road individuals do when they base their lifestyles on credit card borrowing?

Albeit that the government can always print money to expand its credit limit - after a bank would cut off an individual or family - but other than bankruptcy or severe austerity, few individuals get to easily overcome monstrous credit card debt.

And,eventually the lifestyle has to match income. Something the Obama administration clearly doesn't understand from its perspective of being a community organizer trying to increase government benefits.

A policy turnaround is clearly not in the mindset of Democrats.