Virginia Foxx Doesn’t Know Much About Things

Ken AshfordEconomy & Jobs & Deficit, Local InterestLeave a Comment

Her tweet:

Um…. Ginny?

Families don't balance their budget.  Like businesses, they have debt, too.  Mortgages, car loans, etc.

In fact:

U.S. household consumer debt profile:

    Average credit card debt: $15,266
    Average mortgage debt: $149,667
    Average student loan debt: $32,559

vs Income:


So really, if you want America to be like most Americans, you'll be fine with some debt.  But of course, taking your analogy further, do you know any families that would insist on paying off their mortgage while letting their kids go without food, healthcare, and education?

Or families that voluntarily take cuts to their income and then wonder why in the world their budget doesn't "balance"?

Because that's what you're suggesting the government do.