The Dangers of the Household Analogy for Government Spending

In your estimation, what percentage of citizens in a Western nation like Australia or the US or Greece understand those three core economic concepts? Well, interestingly, the less they've had to do with academic economics, the greater the chance that they have a common sensical approach and a fair understanding. I want to drill down on the third one you mentioned because I find it very interesting. Tell us again, what's wrong with the household analogy for government spending? Why does it break down? Because a lot of times you hear, people would advocate the thrifty housewife version of government spending where we need to get back to surplus deficit equals bad. But is it as simple as that?