All Speed No Control: The Dem Debt Machine

Ramirez. A criminally reckless Democrat-run Congress. The doomsday machine:

Imagine your family's finances if you spent and borrowed like Washington: you'd owe $60 in credit-card loans for every $100 of income. Every month you'd pay back a little but borrow even more. In 10 years, you'd owe $87 for every $100 you made. At some point you'd hand off the debt to your kids. If they worked until 2035, they'd owe more than $180 for every $100 they earned. In 2050, your grandkids would owe more than $320. By 2080 they'd owe seven times their earnings. Of course, lenders would cut them off well before then, and your family would be ruined. But this is the path your government is on right now.

Republican Rep. Paul Ryan of Wisconsin, in Newsweek.

We need real common sense reform now. If we can't tackle this, how can we look our children in the eye? Do we think it's moral to burden babies not yet born with crushing debt?

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