J. Michael Sharman   J. Michael Sharman     
Debt                         
Debt should not be an operating norm for a household, a business or a government entity.
Families may use the credit card too much, and businesses may get too deep into their credit lines, but at least in those cases someone is accountable for the debt.
Not so with government debt. The leadership positions in government are completely fluid and constantly changing and no single person or agency is responsible for the debt.
The only way to have accountability and any sense of reality in government finances is to have legal barriers in place so that the current outgo can be no more than the current income.     

J. Michael Sharman

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