Cut up the credit card!

Karl Denninger writes,

What would you say to someone who had $27,000 in family income a year, spent $37,000, and had run up $170,000 on their credit card – and now was demanding that you let them add even more to their balance?

You’d call them insane, right?

And you’d also call those who lent them the $170,000 insane.

What would you do if they then pulled a gun on you and demanded more credit on that card, and worse, demanded that YOU cover it with more unemployment, less purchasing power, more people dependent on food stamps and more offshoring of jobs?

In addition they threatened financial Armageddon if you didn't give them the additional loan – and to top it off refused to negotiate anything until you provided said loan with no conditions attached.

Well?

See, if you add zeros to the numbers above, that’s our federal government, in particular Barack Obama, Treasury Secretary Lew, Nancy Pelosi and Harry Reid.

Right here, right now, today.

It’s long past the time when we should cut up the government’s credit card – and those who try to use these sorts of threats should be treated exactly the same way you’d treat your neighbor if he did the very same thing.

After all, it IS the very same thing.