Cost and effect: The laws of budgeting apply to all -- even government

There are just certain laws that cannot be avoided -- and American families deal with them every day.

A budget is a budget, and no manner of wishing will create money that does not exist.

Therefore, since you have a limited pot of money, choices have to be made.

And there are only so many times you can go for a loan or use a credit card to increase that money pool -- eventually someone will have to pay the bills.

Too bad we can't seem to get that across to the president and some members of Congress.

President Barack Obama is out telling people that increasing the federal debt limit will not increase federal debt.

OK. Well, anyone with a credit card knows how untrue that is. And anyone who has watched the way the government handles money knows that, too. Give the bureaucrats a higher credit limit and they will spend.

So, the upcoming questions about the budget are a big deal because there is a limited pool of money and because if there is a never-ending debt limit, our children and grandchildren will be paying it off forever.

Government needs to be on a budget -- and be forced to stick to it.

That's how an economy stays healthy.

And someone needs to make sure Washington understands that.

Published in Editorials on September 27, 2013 10:41 AM