Deficits. .

Deficits. .

Definitions:

The amount by which a sum of money falls short of the required or expected amount; a shortage.

a.  an excess of liabilities over assets

b.  an excess of expenditures over revenues during a certain period

c.  an excess of payments over receipts on the balance of payments

Deficit:

A situation in which outflow of money exceeds inflow. That is, a deficit occurs when a government, company, or individual spends more than he/she/it receives in a given period of time, usually a year. One's deficit adds to one's debt, and, therefore, many analysts believe that deficits are unsustainable over the long-term.

Another possible definition:  a deficit occurs when a government, company, or individuals are too stupid or lazy to control spending. This is especially true when they are spending someone elses money!

Mom and Dad taught us not to spend what you don't have or buy anything you will not be able to pay for. Also, we learned those same things in my bookkeeping class in high school. If you have a checking account, you have to balance it to know how much is really there. In years past when you went to purchase a home, you had to prove that you had the money to pay for it with your regular wages and no overtime. That doesn't seem to be happening now.

So why is it so hard for our country, states, county and city government to understand this concept? And the schools - the very ones that taught me. AND THEY ARE TEACHING OUR KIDS, GRANDKIDS AND GREAT GRANDKIDS !!!  Are they teaching them that it will be OK 'cause someone wilL come along and bail them out? 

I know prices keep going up despite our president saying the cost of living has not increased. This is keeping folks on Social Security struggling with no increase in their checks - would someone please pull get their heads out of the sand. How many government officials are getting raises?

WE are expected to live within our means and budget while we pay ever increasing taxes to take care of those who don't. There is something wrong with this picture !

OK, now I have vented - still don't feel any better though!