Wednesday, April 13, 2011


Long ago I got my first credit card, a Visa card!

"That's so cool," I said. "Now I don't have to pay for things, I just put them on my credit card!

Little did I know that there would be a day of reconning.

The bill came due.

Then I had a couple of choices.

I could pay a minimum payment, I could pay more than a minimum payment but less than the total due (continuing to finance the rest) or I could pay the whole thing off at the end of every month.

I chose the minimum payment, because then I could continue spending, using my credit card so I could buy more stuff.

I had lots of stuff...but I wanted more.

All of a sudden there came a day when I had "maxed-out" my credit card.

No store would allow me to buy more stuff, because my card was maxed out!

What to do! What to do!

So I made the only decision that made sense to me.

I got another credit card! This time I got a Master Card!

Oh joy! Now I could buy more stuff!

Of course I now had two minimum payments to make, but that's still less than paying both cards off at the end of the month.

And look at all the suff I now could proudly brag about.

Before long, the limit of my second card was reached.

Once agiain I made the only fiscal decision I could make.

I got yet another credit card, this time a Discover Card (after all, I get money back with Discover Card).

So I went on my merry way, making minimum payments on what was now three credit cards.

Nobody had pointed out to me that making minimum payments would leave me in debt to the credit card companies for the next 60 years!

As a matter of fact, I ended up having to declare bankruptcy. I lost everything except my car and my house.

My credit is in shambles and I can't buy stuff with my cards any more.

I wish I had never accepted that first credit card, let alone the other two.

Lucky for me, the above scenario was only a dream.

I don't use credit cards...period.

If I can't pay for it, I don't buy it...except for my house.

(Yes, even my cars I saved up for and paid cash...can you imagine such an archaic concept?)

When the government discusses "raising the debt ceiling," they are doing exactly the same thing I did.

They are just getting another credit card.

Some of you actually think that is a good thing.

Short-sighted fools.

The same thing will happen to our government that happened to me in my dream.

One day, China will call in our debt, and then, as the add says, we will work for them.

Is that what you want?



Harry said...

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Joe said...

Harry: Thanks, but I don't need a free credit report...mainly because I have no (0, nada, none) credit.

But let's send that report to President BO!

Lisa said...

seems like you were living like many people Joe,in liberal la-la land.

Leticia said...

I know it sounds idiotic, but credit cards are of the devil.

Thank goodness I tore mine up and never looked back. It is not free money and it will cost you a lot more in the long run than what the item was actually worth.

It is money trap.

Lone Ranger said...

I didn't get my first credit card till I was 43. I am still leery of them and pay off the debt at the end of every month. What put me in debt was an ex-wife and a plunging housing market. I got my card through my credit union, and they keep an eye on me. If there is any spending that is out of character, I get a phone call.

selahV said...

Obama's new game plan. Tax the rich till there are no rich. Then we'll all (like frogs in a pot), will be thoroughly cooked in a kettle of socialism stew. The government will own all the automakers, the banks, the hospitals and health-care systems, the food distribution and the utility companies. Yep. Socialism. Straight up. selahV

BetteJo said...

Very good analogy. I did that when I was younger. But then I grew up and realized what trouble I was in. Now I have one credit card (just to have credit) and that's it. I don't go over the limit or want the limit raised. I pay my bills on time and yep - if I can't afford it, I don't buy it. I'm not sure if credit cards themselves are evil but I am at the point where I would bet Obama is.

David Wyatt said...

Like BetteJo we have one card & pay it off monthly. We made a commitment when we got our first one that if we ever came to a payment period when we could not pay it all off, we would cut it up & be done. Thankfully so far by God's grace we've always paid the full balance monthly. God is good.

Joe said...

TO ALL: The government believes (and we have let them think) that we don't care about the debt, that debt allows us to "have more things" (like Medicare, SS and stuff) without having to pay for them.

We need to let them know that we DO care and we can have all of that "stuff" as soon as it is within our means to have them without further debt.

My post was not about credit cards, it was about the government debt and their attitude toward it.