Wednesday, January 19, 2011

Credit Restraints are for People not the Government

Try and do search on credit cards online and lots of articles urging you to be careful with them will come up. The usual moralizing goes like this: cut them up, make a repayment plan, call your local Consumer Credit Councellor to help you. Use sparingly, pay your bill every month, be thrifty and save up for all your purchases. Buy cash, use a debit card. If you can’t afford it, don’t buy it.
How come no one will deliver a similar strict lecture to the government officials who do not seem to be thrifty at all with the National Budget and who borrow profusely from foreign powers and banks like there is no tomorrow while running up phantasmagorical debts, the likes of which has not been seen in the history of mankind? Many borrow from countries who do not really view us as friends. Why don’t they save up a bit? Like for example, take part of their salary and pensions and create a fund and when they are ready to wage a war, they wage it. But no, thriftiness is for the common folks to observe, not for them.

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