Topic: Election 2008
Credit Card Declined The credit card is over the limit, refinancing to consolidate debt is not an option this time as bankruptcy looms and foreclosure knocks on the door of an out of control spending maniac known as the United States Government.by Gary Wood
(conservative libertarian)
Thursday, July 17, 2008
Have you ever gone to use a credit card and had it declined for being over the limit? It can be an embarrassing and frustrating situation. Perhaps you have another card available but it could be your credit limit has reached its end and there simply is no more available to make the purchase. Your checking and savings may well be exhausted, the idea of refinancing your home is no longer an option since you've pulled more out than it's worth already to cover the last time your credit limits were maxed out. There's a real concern that bankruptcy and foreclosure are going to be a part of your future with no real way to stop the inevitable this time, especially since your income has been slashed due to economic changes in the industry you once earned a healthy living within.
The scenario is one faced each and everyday across this country. Turn on the TV and listen to the number of advertiser offering credit card debt assistance. Also, note the number of companies offering to help us stave off the IRS and help with tax debt, which is another drain many face. More and more our neighbors, friends, and family are facing financial meltdown. The meltdown may be happening so close to our home we need only look in the mirror to see the next victim. Declined, something we are growing accustomed to.
Government is not getting this message however when they use their charge card. The national debt is over $9.5 trillion dollars...can you picture that amount? One trillion will nearly reach from the earth to the sun but that is still hard to picture. Look around your neighborhood, city, state, and the country. To replace every house, condo, apartment, trailer...the entire housing stock would cost about $10 trillion according to the Daily Kos. Every living accommodation across this land!
Much as we the people keep track of our growing debt the government has a Bureau of Public Debt to help it track this growing amount. Despite all the income taxes collected, despite all the money funneled into the government through countless other taxation means the United States Government is accumulating more debt at an alarming rate of $1.73 billion dollars each and every day and has been for nearly a year! We the people know what happens when you can no longer pay off the balance owed and many of us know what happens when we finally reach a point where we cannot even scrape enough together to pay the minimum payment. The U.S. Government does not understand this concept as the entire amount collected by income taxation simply is spent on attempting to pay the Federal Reserve the interest alone. (This doesn't even take into account the amount of foreign treasury bonds held by other countries which could be cashed in at any time, etc.)
Yet, the credit card keeps getting swiped by the U.S. Congress and approved by the Federal Reserve Bank. President Bush keeps on swiping the card and no decline is sent his way. Bureaucrats running countless duplicity and unconstitutional operations under the umbrella of our federal government continue to charge on the very same card with no decline message. The printing presses run, money is created, debt is increased, inflation taxes us toward poverty and we receive more assurances this same fiscally irresponsible, overdrawn operation is here to help us and take care of us.
We the people are frustrated. Only 30% approve of our President while 70% can't wait to send him packing. The approval of our congressional representatives is down to 14% BUT will the people, 86% of the people dare to fire the bums from their districts? Likely only the bums associated with Bush and the GOP this time around because after all the great Democratic leaders and media are busy spreading the message of change while promising to paint red states blue and promising to keep swiping the card. How can this be? Well, there will need to be an increase in the amount paid to the interest and that does mean there will need to be more income taxes collected but that shouldn't be a problem, that should not cause a decline to show up when their card is swiped. Oh, by the way, this is the same song played by the GOP back in '94 to wrestle control from the Dems...it matters not what party wins as long as the party continues...swipe the card!
Bail out private corporations...swipe the card. Buy everyone universal health care...swipe the card. Cover our international presence and our trillion dollar plus defense costs...swipe the card. Provide our children low quality education...swipe the card. Give welfare to those that ask...swipe the card. Pay for majority and minority leaders and their staffs...swipe the card. Fund the retirement of representatives...swipe the card. Rename a highway...swipe the card. Insure certain groups are smiling...swipe the card. Help the citizens and stabilize the United States through sound Constitutional policies...oh, that upholding the oath thing...nope, that's not near as fun as swiping the card. Don't interrupt the party, don't dare answer the door.
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The views expressed in this
article are those of Gary Wood only and do not represent
the views of Nolan Chart, LLC or its affiliates. Gary Wood is
solely responsible for the contents of this article and is not an
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Posted By: Wendall Dennis
Date: 2008-07-17 12:53:52
Gary please go to the head of the class. Perhaps my opinion doesn't count for much, but this is the best of the best. Very well articulated, most relevant, very well timed, and dead on target. You acced it my friend. Congratulations! Wendall
Posted By: Michael McDonnough
Date: 2008-07-17 17:21:20
Gary,
I would only add that the party while she is over the government and its affiliated coprorations are simply going to keep smiling and saying everything is fine until the last. Those of us sounding the alarm will be escorted to the free speech zone. I suspect gold will hit $2000 by this time next year if not sooner.
Thanks Wendall, I appreciate the positive feedback. Michael, that dreaded free speech zone...if Frauline Pelosi and company have their way it will be a shrinking zone to be sure...but the speech must go on. Gold at 2000 within a year...that's as bad as saying the cost of oil would reach 140 a barrel by 2008, what are you thinking!! ;0)
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