Government is nothing like a business and cannot be run as one — its aim is to protect its citizens, not to turn a profit. Businesses and individuals often borrow in the short term to make investments for the long term — mortgages, lines of credits, and other sorts of loans are facts of life for millions of Americans and businesses of all sizes. Start-up businesses rarely break even for the first several years and few people can afford to buy their first home outright or pay for their kids to go to college out of pocket.
Still, many politicians who advocate for cuts to vital programs and a dangerous Balanced Budget Amendment to the U.S. Constitution use the argument that government needs to live with in its means because everyone else does — but have debt of their own. These hypocrites include:
House Budget Committee Member Tom Rice (R-SC): Wrote: “At a time when hardworking American families are living off of a budget, the federal government should be no different. My colleagues and I believe it is time for America to change course and get back on a path of prosperity. This begins with a balanced budget plan.” Reported five mortgages totaling over $4 million.
House Budget Committee Member Diane Black (R-TN): Wrote: “The state of Tennessee balances its budget, American families and businesses balance their budgets and so should the federal government,” and “Balancing the budget is not extreme; it is what American families across this country do on a regular basis.” Reported four mortgages on three properties, totaling more than $3 million.
READ MORE: 14 GOP Congressmen Who Think Government Shouldn’t Borrow Have Big Debts Of Their Own | ThinkProgress.