Try this at home: Spend money you don’t have. Max out your credit card. Then demand that your credit card company do its “duty” and raise your credit limit. That’s what’s going on in Washington, and it has raised our national debt from $9 trillion to $17 trillion over the past five years.
Republicans are doing nothing more extreme than trying to impose some spending discipline. Let’s hope they succeed before the global financial markets do it for us.