Tag Archives: Credit

We Have A Spending Problem

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On Monday, The Daily Signal posted an article about government spending. The article included five charts that illustrate the problem.

These are the charts:

When interest payments make up a quarter or our spending, we have a problem. We have been living beyond our means for so long that we will never get out of debt without drastic action. There have been various plans to cut the federal budget in the past–one of which simply required taking one penny away from every dollar. It is time to reconsider these plans and to reconsider shrinking federal employment by at least 10 percent. If companies are forced to cut back because of inflation, the federal government should also be required to reduce its size. We are becoming the economically illiterate consumer who pays the minimum payment on his credit card every month and wonders why the balance never goes down.

A Democrat Member Of The House Ethics Committee Has Been Arrested

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The Gateway Pundit posted an article today with the following headline, “Feds Arrest Crooked State Democrat David Nangle in Massachusetts — He Was Sitting on House Ethics Committee.”

The article reports:

Nangle is a compulsive gambler.
MassLive reported:

Massachusetts State Rep. David Nangle, who is accused of using campaign funds to pay for personal expenses, had “regular cash flow problems as a result of extensive gambling,” federal prosecutors said in court records.

The Democratic state representative was arrested Tuesday on several charges of wire fraud, bank fraud, filing false tax returns and making false statements to a bank…

…“Despite his salary and perks, Nangle was heavily in debt, had poor credit (with a credit score reported as low as 593), and had regular cash flow problems as a result of extensive gambling at various casinos…,” federal prosecutors said.

Elected by the voters of Massachusetts.

Is This An Example We Want Anyone To Follow ?

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Breitbart TV posted a video of Cindy Sheehan speaking to Occupy Rose Bowl. She states that she has told her credit card companies that she will not be paying them anymore and that she has not paid her income tax for eight years. Good grief!  Credit card bills occur when people buy things. If you don’t buy things, you don’t have a credit card bill. When you buy something with a credit card, you take on the obligation of paying that bill. If you don’t want the bill, don’t buy the stuff! As for the income taxes–I guess the George W. Bush Administration was simply not political enough to have Ms. Sheehan audited.

Oh, how I long for the good old days!

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