The following 3minute short movie clip is pretty funny and aimed at the United States. However that very same clip is the reality for most westernized countries (Canada) whether we or they like to admit it or not.
Yes we smile and point at America and their government's fiscal irresponsibility and say it won't happen to us "we don't live in America", reality check....it is happening, not on the same scale population wise but it is happening. What if we fixed our personal finances with our own families first? Would that make a difference?
Currently every newborn in Nova Scotia, Canada (that's where I live) comes into this world owing $14,008 in provincial debt.
We teach our kids to live within their means, to match their incomes. These are principles that the government ought to live by.
"In my mind, it's really gone beyond a question of what is sound business practice, and becomes a question of whether it's right or wrong." - Jacques Lapointe, Nova Scotia's Auditor General.