Monday, August 1, 2011

To those on Capital Hill Who Don't Have a Clue About Money Management

Speaker Boehner et. al.:

A couple of things I wish someone would say to those of you on capital hill:

Stop with the bipartisan comments. I don't care if it's bipartisan, tripartisan, nonpartisan, or whatever. In my circles there's bye-partisan (for those of you who refuse to get it), and try-partisan (those 22 who are trying to convince you where you are WRONG!)

And I'm really tired of you all saying that if the debt limit isn't raised, there will be some sort of financial Armageddon.

When was the last time you paid your personal bills? I mean where you sat down and wrote out checks or at least filled in the blanks on your banks' website? I don't mean to insinuate that you don't pay your bills, just that someone else does it for you - an accountant or someone? Did you even know about those bills? I know some of you have a little trouble with paying your taxes that you insist on raising for those of us who DO pay our taxes and maybe some of you have trouble having your personal bills paid. Whatever. The problem here is you're buying things we don't approve. The "we" being the taxpayers supplying the cash flow.

Because most of you seem to be so financially retarded, let me explain how this stuff works. YOU - the federal government - have managed to buy way too many big screen tvs, superbowl tickets, beer, yachts, ballgowns, hosted too many expensive receptions, etc.... (dept of education, fannie, freddie, dept of ag, grants to study really stupid things, on and on and on) with those plastic cards you carry in your wallets. You had friends to impress (ignorant voters who expect to get some financial gain in exchange for them voting for you). Now, you're trying to continue to use your plastic but the credit just isn't there any more. You've maxed out on your credit cards. You still have friends to impress though. If you stop using your credit cards and start paying more than the minimum, you will eventually get those bills paid off but it does take a bit of discipline which you are sorely lacking. Those friends you feel you need to impress are not friends.

But alas, you are trying to convince the credit card company that you need your credit limit raised or you won't pay your bill. Do you know what happens in real life if you try that? They laugh at you and get a bit nasty sometimes and tell you too bad, pay your credit card bill. In real life, they may even lower your limit, which is really what is warranted in your case.

The debt ceiling (credit card limit) does not need to be raised in order for you to pay your obligations. You just pay them. You also need to cut spending in other areas and quit buying all those unnecessary things you think you want.

Most of us get beyond this during our 20's when we discover all those things we thought we needed yesterday, we really don't need after all and in some cases don't even want. Not you though.

So, raising the debt ceiling DOES NOT mean you will default on your obligations. Our tax dollars come to you every month like clockwork. Why? because we, the working taxpayers, have no choice. It is taken out of our paychecks automatically. Defaulting on your bills is a conscious effort. You make the choice to not pay them. It has nothing to do with running out of credit. Running out of credit means you have spent beyond what the creditor thinks you can pay back. I really don't care what Moody's thinks. So what if they lower our credit rating for now. It's gonna happen anyway. If you pay the bills and cut spending, you'll prove them wrong and the credit rating goes back up. Whoop de do.

Standing up there stomping your foot acting like a two-year old isn't going to get you anywhere. Take back to the store those things that still have tags on them (quit funding those stupid programs), have a yard sale (quit funding more stupid programs), and listen to those who know how to really tighten a belt. Yes, it's gonna hurt like hell but in the long run, it's the right thing to do.

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