Comments on: Does anyone in Washington really know how to balance a checkbook? Manage finances?

By: William Mougayar

William Mougayar — Tue, 15 Jan 2013 22:07:00 +0000

In reply to JLM. That aside, point is that it's not a "real saving". I was thinking of the government saying they are saving this or that while they are actually still spending.

By: JLM

JLM — Tue, 15 Jan 2013 18:02:00 +0000

In reply to William Mougayar.

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Depends on whether you are married or dating, no?
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By: William Mougayar

William Mougayar — Tue, 15 Jan 2013 13:14:00 +0000

In reply to JLM. Or via the "saving fallacy". Look I bought this on sale for $60 when it was worth $100. Saved $40 or spent $60? Politicians deceive us the same way when they say they are saving $x and $y when they are really spending $z and making the hole deeper.

By: JLM

JLM — Tue, 15 Jan 2013 03:58:00 +0000

In reply to Abdallah Al-Hakim.

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I agree completely. The other thing is to think about it like a credit card.

Your spouse wants to solve the problem by getting a higher limit on her Amex card.
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By: Abdallah Al-Hakim

Abdallah Al-Hakim — Tue, 15 Jan 2013 03:27:00 +0000

A friend recently told me that the spending crisis becomes very understandable if you remove a few zeros. It becomes a familiar to almost anyone who has to manage living within a budget!