Quote:
Originally posted by jyl
Debt is debt, regardless of the goodness or badness of the reason for it.
Whether your family goes $50,000 in the hole to buy a luxury car or to put your kids through college, you are still $50,000 in the hole. Either way, you have to cut spending or increase income, to pay it back.
Same for the USA. . . ..
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No, it is NOT the same. Most people will use the same model as you just did, but that does NOT make it correct.