Is this an accurate analogy of what this is about?

[FLyellowdog]

I have a job which gives me just enough money to pay what I owe.
I have a mortgage on my house.
I have a loan on my car.
I have a Student Loan.
I have Medical insurance.
I have utility bills that come in on a regular basis.
I have living expenses (food, clothing).

Then my job gets cut back so that my pay gets cut. (Reduced resource…aka tax breaks for wealthy).
The roof collapses and needs repair. (Added expenses…aka unfunded wars/Medicaid).
Without additional income resources (aka …discontinuance of tax breaks for wealthy), I won’t be able to pay back the money I already borrowed or to pay current bills.

One solution is to refinance my house (aka…raise my debt limit) and I’ll have the money to meet most of my obligations. Then I find a second job and/or cut back on my utilities/food/clothing,etc.(aka…shared sacrifice).

I know this analogy is full of holes, but I’m just trying to figure out how to understand the situation. Anyone care to help? :shrug:

[abelenkpe]

1. Except you can't refinance. You have no equity.

You can't sell that thing now. Cmon....

[FLyellowdog]

2. OK, but just suppose I could.

Is it sort of right?

[FLyellowdog]

3. I guess not being able to refinance would be the same as Default. Right?

[abelenkpe]

8. That'd be a legitimate reason to default

Congress has no legitimate reason to default. They are choosing to default.

[Skink]

4. Job cuts will become more severe and then your credit worthiness disapears.

[Angry Dragon]

5. What everyone in DC is forgetting is that they have cut off

1/2 of the solution
If a family or business is running out of money they go look for another stream of income
In government today that stream is being denied.
Tax the rich until the debt is eliminated and then decide if it pays to cut taxes again
Tell the rich we are going to raise taxes because you have all the money and then we will talk about tax cuts

[dgibby]

6. More like this:

You've used your credit card to make purchases. Now you've decided that you aren't going to make the payments anymore. Creditors will write you off as a deadbeat, tank your credit rating. Henceforth, if anyone is stupid enough to let you buy on credit, they'll charge you both arms and both legs in interest.

[abelenkpe]

7. Yeah that's it

We're choosing not to pay off debt we've already accumulated for no good reason at all. Just to be jerks cause we won't feel good until the elderly poor and government workers are made to suffer.
I mean really how messed up is that?

[dgibby]

9. Shock Doctrine has come to the USA with a vengeance.

Nothing like a little Disaster Capitalism to destroy a country.

[newportdadde]

10. Not bad but instead of losing your job you basically quit it (tax cuts for wealthy).

You knew what would happen but did it anyways.

[FLyellowdog]

11. YES! Should have thought of that. Thanks.