Framing the Dialogue

Posts Tagged ‘ceiling’

Wimpy Washington Economics

“Top Democrats and Republicans in Congress prepared new proposals to avert a government debt default and a potential global financial crisis.”

That’s the lead paragraph from a story in today’s paper.  What should scare you is when Democrats and Republicans agree on something the public generally gets screwed.  I believe that both sides realized that they set up this “battle” and now that the public is watching they are not sure how to get out from all of the rhetoric that they have been spreading.  What both sides agree on is that they both want desperately to get re-elected and regain power.  Even a little power is better than none and they are more than willing to squander our money, our children’s money, and our grandchildrens’ money to maintain their power.  Here are few facts as I see them:

Debt…Deficit…Doubt…Disaster?

credit-card-drowning2Personal Finances:  My wife and I have amassed some decent credit card debt by spending more money than we had available, or deficit spending.  Since we are blessed with a good credit rating, the banks are always willing to raise our credit limit.  They are just so nice about that.  Rather than take advantage of those nice folks’ offer, we are in the process of reducing that debt through a number of means.  We are going to have to spend less, sell some investments, and restructure some debt, but should have it eliminated within the next three months.  Although it will be hard, but we feel that there is a need to eliminate this debt.