Okay, here is a situation I propose to you. You have a 22-yr old in college. He has a credit card so you can teach him about responsible financing. (Go with me on this, its just an analogy.) Your child has no job and YOU pay the credit card bill. Slow but sure, they run up the bill to the limit on all kinds of stuff they "say" is needed for their education. You may disagree, but they have some persuasive arguments.
Anyway, the credit card company contacts them directly and says "hey man, you're a really good spender so we want to UP your credit limit." They do this several times and the limit is ridiculously high. And YOU are still responsible for the bill.
So what do you do?? Do you call the credit card company and yell at them, demanding to know what the heck they were thinking? Do you take the card from your college age child? Do you sue either or both of them? I mean, what do you do?
Well, this is the situation we are all in with Washington's irresponsible spending and ridiculously high credit limit. They want to keep spending, and they'll give you lots of good reasons. Reasons that on the surface sound valid but you have to consider the economic times we are in. Hard choices have to be made in the area of spending. Raising the limit on the credit cards is also NOT a good option. It just puts off the inevitable and makes the problems worse.
The whole idea behind Cap, Cut and Balance is a responsible approach to government spending. And Standard and Poors has said that they will downgrade our bonds (meaning the dollar will be worth less and our credibility will be shot to heck), if we don't couple a raising of the debt limit with some kind of responsible management of our money. Which means we HAVE to have a Balanced budget, just like families across America. We HAVE to get serious about how we spend our money, just like every citizen in this country. And we HAVE to have a tried and true method of creating a stable economy. If we don't, we're serious trouble now and down the road..
Just like a family that has to make choices, the government is going to have to make choices. We may not like all the things we have to rein in right now, but we HAVE to. We have no choice at this juncture. Look into it for yourself. Don't be a willing follower of every pied piper out there. Think in relation to your own economic situation. Could you do in your family what the government is doing to our country?
Agree with me or disagree with me, it makes no matter. So long as I got you to think for yourself instead of listening to some talking head or a politician that talks out both sides of their yap or the guy down the street who talks louder than everyone else. And seriously, don't even listen to me and take things for gospel. Just make some common sense connections with what the government is doing and what you have to do every day. But heck, this is just me, Thinking Out Loud.
Have a great day.
Charles
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