B: The Debt Limit, in this metaphor, isn't the limit on the credit card -- it's paying the credit card when the bill comes in. Which both the country and this imaginary family can do easily.
Oct 4, 2013
How Can the Cartoonist For Investors Business Daily Get Economics So Wrong?
Michael Ramirez, 10/1/13:
A: Many households have a total debt higher than their annual income -- it's called a mortgage.
B: The Debt Limit, in this metaphor, isn't the limit on the credit card -- it's paying the credit card when the bill comes in. Which both the country and this imaginary family can do easily.
B: The Debt Limit, in this metaphor, isn't the limit on the credit card -- it's paying the credit card when the bill comes in. Which both the country and this imaginary family can do easily.
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Please remember that the purpose of Editorial Explanations is to explain and to expand knowledge, rather than to engage in any partisan bickering. All cartoonists are completely correct, in their own worlds.