Steve Keen has essentially written a better-worded version of the blog I was going to write, only with pictures. The only issue is that he doesn't talk much about the third leg - imports and exports.
So, rather than retrenching this same ground, I'll just link to the better article and then continue from there in a day or two. But the bottom line is clear -- balancing the Fed budget on the backs of the taxpayer makes no sense. Nor does enriching banks. In fact, we CAN'T balance the budget without balancing trade first, really.
http://www.forbes.com/sites/stevekeen/2015/01/14/beware-of-politicians-bearing-household-analogies-3/
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