World Governments Acting Like Teenagers

When I was a young man still in University I was offered my first credit card. It was a GM VISA with a $500 spending limit. Considering I didn’t have $500 to my name and summer was coming I was ecstatic that I would be able to load up my tackle box and pick up a carton or two of smokes. Although not necessities to the average person, they seemed like they were necessities to me.

So I cautiously ran up a bit of a tab on the card. Then the inevitable bill came. Sure it showed me a minimum payment which was a bit of reassurance. I wouldn’t have to pay the whole thing off at once. But little did I realize that that small monthly payment was coming right off the top of my income. Why? Because I chose to spend something I didn’t have.

Well governments around the world are doing it now. Forget extreme hyperbole such as “spending like drunken sailors”. Expressions like this make it sound like we are just exaggerating. Well the truth is they are spending like unsure, unaware teenagers with their first credit cards. They don’t realize that pulling more out of the taxpayers is like that teenager trying to find a job in a down economy. The potential to pay back that debt is there, but the economic conditions to allow that to happen are just not there. And the more we run up the debt the harder it will be to dig ourselves out.

That’s it. I don’t have any links on this. Just the anology and the request that everyone out there contact the politicians representing them at all levels of government and simply ask them to spend within their means. Do NOT extend their means to accommodate how much they want to spend.

One thought on “World Governments Acting Like Teenagers

  • June 8, 2010 at 1:23 am

    Yes and mortgages and leased cars are the same. We now have to have mortgages, but they should be less than 25% income. If more, you are over-housed for your ability to pay. Never buy a leased car!!! Only suckers buy leased cars. Never buy furniture or fun things on credit unless you can pay all of it back in three months. Cover a box with fabric for an end table and paint your own art. Never pay credit card fees!

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