I think Congress and the President need to take a page from the play book that they gave us, middle-class Americans, during the early days of the recession to deal with the current national debt crisis.
The rules:
1. Increase your revenue. Now, this one is tricky. Although you told us to take on second and third jobs to make more money, the reality was that by the time our hours and pay were cut, even if we could find those second and third jobs (do you know how many employers want your availability to be 24/7?), we were no better off financially than when we started. So, here’s the reality of the situation, increasing your income works well on paper, but not in real life. Besides, haven’t you read about all those people who were lucky enough to start making more money and how they simply started spending more money and actually ended up further in debt. Now, let’s be real, you know that with the Government’s addiction to spending, more revenue = more spending = more debt, guaranteed. Learn from our past mistakes, Ignore Rule 1 and immediately move on to Rule 2.
2. Live within your budget. You can’t spend what you don’t have. It’s not always fun, but that’s the way it is. Oh, and no more borrowing money or living on credit. The banks, with your blessings and financial support, took away our credit limits and our credit cards to “help us live within our means and pay off our debts.” Now, it’s your turn.
3. You have to support your family. Remember all of that advice about buying groceries and paying the mortgage first and then paying the rest of the bills? We have a responsibility to try to keep food on the table and a roof over our family’s head; you have the same responsibility to take care of the people who depend on you — Social Security recipients, the military, etc.
4. Cut out the excesses. There was a whole media campaign telling us to cut out the cappuccinos and the manicures and the vacations so we could get our budgets in line. So, Congress, it’s time to cut the luxury items out of the national budget and maybe it’s time you start paying your own travel expenses and health insurance premiums and, here’s another idea, taking a pay cut like so many of us have had to do.
Mr. President and members of Congress, you made up the rules, now it’s time you live by them.
p.s. Don’t miss the deadline ‘cause those late fees and increased interest rates, not to mention your damaged credit score, will stay with you for years.
1. Increase your revenue. Now, this one is tricky. Although you told us to take on second and third jobs to make more money, the reality was that by the time our hours and pay were cut, even if we could find those second and third jobs (do you know how many employers want your availability to be 24/7?), we were no better off financially than when we started. So, here’s the reality of the situation, increasing your income works well on paper, but not in real life. Besides, haven’t you read about all those people who were lucky enough to start making more money and how they simply started spending more money and actually ended up further in debt. Now, let’s be real, you know that with the Government’s addiction to spending, more revenue = more spending = more debt, guaranteed. Learn from our past mistakes, Ignore Rule 1 and immediately move on to Rule 2.
2. Live within your budget. You can’t spend what you don’t have. It’s not always fun, but that’s the way it is. Oh, and no more borrowing money or living on credit. The banks, with your blessings and financial support, took away our credit limits and our credit cards to “help us live within our means and pay off our debts.” Now, it’s your turn.
3. You have to support your family. Remember all of that advice about buying groceries and paying the mortgage first and then paying the rest of the bills? We have a responsibility to try to keep food on the table and a roof over our family’s head; you have the same responsibility to take care of the people who depend on you — Social Security recipients, the military, etc.
4. Cut out the excesses. There was a whole media campaign telling us to cut out the cappuccinos and the manicures and the vacations so we could get our budgets in line. So, Congress, it’s time to cut the luxury items out of the national budget and maybe it’s time you start paying your own travel expenses and health insurance premiums and, here’s another idea, taking a pay cut like so many of us have had to do.
Mr. President and members of Congress, you made up the rules, now it’s time you live by them.
p.s. Don’t miss the deadline ‘cause those late fees and increased interest rates, not to mention your damaged credit score, will stay with you for years.
