Living Beyond Our Means

What happens when we as consumers live beyond our means and go on a manic spending spree, racking up debt faster than our debtors can keep track? Sure you have some nifty new duds in the closet that you may get around to wearing one day, and it sure felt good to shop with abandon, but paybacks are hell.
The next morning, when you’re back in your right mind, reality strikes. How do you eat and pay back your creditors as well? What about that new home you were thinking about trading up to? Just how bad did you ruin your credit, and will you be able to change jobs now? How long will this follow you into your future, one that may not already be written? Will you have to declare bankruptcy?
Maybe that shopping binge wasn’t so great after all. If realized in time, you can always return that new dress, but oh it was such a good deal! Some is not returnable, but that six course dinner with matching wines at that upscale French restaurant for twelve of your best friends was good (probably won’t even get a thank your from those people; what were their names again?).
Does this sound familiar? Not you! Congress!
Since Obama has been in office, he has been on a drunken spending spree, lighting his smokes with million dollar bills and buying everything that strikes his fancy. According to one report, Obama has spent $36 billion dollars PER DAY since he has been President.
The approximate current Gross National Product for the United States per capita is $47,000. The National Debt per capita is approximately $38,200 and rising every minute. Obama wants to institute what he calls in Obamaspeak “Health Care Reform”, at the cost of who knows what at this point. If I understand this information, that leaves less than $9,000 per person per year for other essentials and non-essentials that the Federal Government has committed to (today). Would this work in your household? Could you pay for your rent or mortgage, electricity and other utilities as well as food on this budget? Of course not.
Our Federal government does not have the option that seems too easy for consumers today that put themselves in this position. The US cannot afford to be declared bankrupt.
In my humble opinion, this spend at will lifestyle our President and Congress are living vicariously through our government is due to an elitist sense of entitlement. It’s as if you gave all of your credit cards to your teenager and what happens next? Scary to think about, isn’t it?
Spend in haste, repent at leisure!