The Corner

House and Home and Debt

President Obama, giving a speech on housing in Phoenix, said, with a straight face: “Don’t buy what you can’t afford.”

That is excellent advice; would that the U.S. government lived by it. As it stands, if the national debt continues to increase at the same pace it did under Obama-Pelosi-Reid and Obama-Boehner-Reid, then in about seven years it will amount to more than the value of all the residential real estate in the United States—combined.

There is an old expression: “Eating us out of house and home.” Surely, we are buying more government than we can afford. 


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