We got your credit statement ((NON-GRADED))

NOTE: this is a NON-GRADED response, I have a political blog, an event just happened which may well spell disaster for the American political and economic system and I feel compelled to write. For those of you who don't know yet: the Dow Jones tanked today. It was worse than Black Monday in terms of raw money lost and points lost off major indicies, in terms of percentage it was the worst since a similarly fateful Monday in 1929...



As a college student I'm intimately familiar with credit: Namely, with the predatory lending practices that banks engage in precisely to get me to live beyond my means to the tune of 19% APR in their pocket. Surprise surprise, when you give loans to people beyond their means to pay, they default... whoops. To put this in 'kitchen table economics' terms, imagine you, as a college student running up a very large credit card bill. That is what congress is doing with our future. Say "NO!" to Congress mortgaging our future. Spending money that you don't have is not even a matter of basic macroeconomics, it's called "not being MC Hammer," and yet congress does 'live like a rockstar' only congress can't declare bankruptcy like a moron that runs up his credit cards can. Or moreover if they did it would destroy the value of your money, as well as the global economy. Habitually, not for one year while you're growing, not for 10 years while times are tough, but 95% of years from 1935 onwards, spending more money than you take in is not a viable lifestyle for any person, corporation, family or organization. Only the government could get away with it because they have us, to put it bluntly, by the minerals. They can take citizens money through, to use a classical political philosophy term "coercive force." They can make us pay for their irresponsibility through threat of imprisonment, that is the current cornerstone of the US system.


Imagine, if you will, congress was one of those poor souls sucked in by legalized loanshark rates on credit cards:

Dear Congress,

You haven't been answering your cell-phone, so I wrote a little e-mail, Congress. We got your credit card statement today.

I can't begin to explain how upset your taxpayers and I are.

A trillion dollars for a war in Iraq! I mean, you and I sat down and had a long heart-to-heart before you moved away to Washington, that credit card is for emergencies only. And no, I'm not going to buy that Iraq was an emergency. You need to realize the difference between the things you want and the things you need. A few trillion for entitlement spending, while we're not HAPPY about it people have to live somehow, and you did make a promise to all those baby boomers. A F-22 Raptor is not a necessity, can't you be happy with all the F/A-18s we got you for graduation! You *threw away* your A-10 Thunderbolts saying they were 'too old' and I know for a fact they worked just fine. There are unarmed people in Ethiopia that would LOVE to have GAU-8 mounted fixed-wing aircraft, and you throw yours away!


Now I find out you just maxed out your credit limit buying up bad mortgages! Son you can't go on spending money that you don't have, because someone has to pay for that, do you realize that your Taxpayer just got a second job to pay your rent! She's working nights at the mini-mart because of how much we pay for your nice capitol building and your executive salaries, not to mention all those porkbarrel projects you insist you 'need'. These things cost real money, son, and someone has to pay for them! Now I know you'll get all apologetic and offer to pay us back, just like you did in the 90s, but you didn't even finish paying that back, you broke up with your President and the budget we made went out the window.

I don't want to have to do this, I really don't, but you're on your own, we can't co-sign another bailout, sure you eventually got your money back from Chrystler, but then we had to help out that friend of yours that works at the airport, and now the banks too? I'm afraid that unless you get your budget under control we can't co-sign for you anymore.

-Love, Your Constituant.