In front of Congress this week, our Treasury Secretary testified that the TARP program was winding down and some of the leftover funds would be used to pay down the deficit. When I read that, I thought that is like saying we are going to use the remaining credit limit on our credit cards to pay down our mortgage. You cannot use borrowed money to pay down your debt.
We need more straight talk from our government officials. When I hear things like "deficit neutral", "paid for from savings", or "lower costs", I really wonder what sort of "spin" they are using to make that justification. I realize many don't really question these statements but we should. We cannot solve our country's problems if we refuse to accept the truth and demand straight talk from our politicians. I realize that the truth will be hard and we probably won't like the solutions. We are in a state of denial and we need to face the facts. The fact is, ss a nation, we have max'd out our credit cards. We need some serious debt counseling!