What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom.” – Adam Smith

There is a lot to be said for this quote from Adam Smith.  If things would be wise for a family such as living within your means, not starting fights unless absolutely necessary, treating each other well; these things would be wise for a nation as well.  The converse is equally true.  If you would politely and firmly tell a family member that they cannot expect success by living beyond the means of the family, we should likewise speak up on our nation’s economy.  More on this later.  For now, I simply want to put out there that things wise and unwise can generally, though granted probably not always, can be fairly extrapolated to the governance of a nation as well.