I have seen so many ads saying "you can reduce your debt by calling this number" or doing other things. Why should someone else pay off MY debt. I bought the things and I have used them so I will pay for them. Nothing is free. I think people actually think that if the bank writes it off then it just goes away. The money has to come from somewhere and it means someone else is paying for something they never got. If the government pays for it in the form of "stimulus bills" or similar then the taxpayer is paying for it. If the bank just "eats" the cost then the other people banking at the bank will pay for it in higher interest and fees. Someone will pay for it and I believe I should be the one to pay for the things I get!
I agree!, but I think everyone else should pay for my health care, better yet, let the government pay for it, then it will be free!..or at least the costs will go down because everyone will just voluntarily be satisfied with less care even though it's costing them "nothing" to get it. Besides, we're too dumb to know what health care we're willing to pay for anyways. I know the government knows best what I need and want.;) You know, I don't really want to pay me debt off either..why should I pay my debt plus me neighbor's?? Seems to me like being responsible is stupid.
ReplyDeleteI think most of the debt reduction schemes involve rolling all of your high-interest debt into a refinance home loan. So you end up with the same dollar amount of debt, just at a lower interest rate. It can be a good solution to save money on high interest loans, but the problem is your house is now collateral against ALL of your consumer debt. If you are a responsible person it's not a big deal but most people who have out of control consumer debt in the first place really shouldn't place their home as collateral against their own irresponsibility.
ReplyDeleteHey. I love your Father in law, Putz.
ReplyDeleteThis is an interesting argument, about the stimulus bill coming from "somewhere." I think we all know where that somewhere is... "nowhere", therefore we're going into deeper debt.
I actually love a lot about Obama but I've never thought he was strong on economic issues. So I can agree with this post, in spite of the fact that I, along with your FIL, am a fierce Obamite :)
The solution to combat debt is to not go into debt in the first place. Buy nothing until you have the cash saved to spend. Destroy the credit cards! In 33 years I spent $25 only on a bank loan. Everything I buy is with my own saved money; otherwise, I do without. Actually, I do without very little.
ReplyDeleteand by the way, I love your Putz too. He's the Topz! If only he would deign to get back into his blogging that is missed by so many.