And An Enormous Debt To Boot!

I came across the following quote a few days ago and it made me think of several administrations of the past, and the path the current one is on as well.

"We are spending more money than we have ever spent before and it does not work. I want to see this country prosperous. I want to see people get a job. We have never made good on our promises. I say after eight years of this administration we have just as much unemployment as when we started and an enormous debt to boot."

FDR’s Secretary of the Treasury, Henry Morgenthau, Jr. in 1939.

Such simple concepts as spend less than you earn and stay out of debt has been ignored for a long time by many on both the personal and federal level. Here in Iowa our budget by law must be balanced. Think that idea will ever fly in Congress?