Posted by
Ikester on Friday, January 07, 2011 4:41:19 PM
We live in an amazing time today in this country, when legislators are eager to bail out companies and states who live beyond their means with taxpayer dollars. We keep hearing about New York, California and other states who will soon be bankrupt IF THE FEDS DO NOT HELP THEM OUT. I say, let them go bankrupt and face the music for their irresponsible management of those states. We do not see families bailed out like this but they have to do whatever it takes to get out of debt and LEARN A LESSON TO NOT REPEAT THE FAILURE. If people are bailed out they will do it again.
This is why I turn off every commercial from those companies who blast us with "do you owe $10,000 on your credit card or to the IRS?" This is nothing more than outright thievery to those creditors who DO pay their bills since this ends up being passed on to others who try to live within their means.
I often wonder how anyone can owe the IRS or credit card company $10,000. I have credit cards and also pay income tax but I pay off my credit cards monthly and my taxes yearly. To get this deeply in debt, and at 19-22% interest is totally irresponsible. It always amazed me to watch for expired car plates in California when I lived there. Do you venture a guess which cars had the most expired plates? BMW's, Mercedes Benz, Lexus etc. They were the cars that were luxury cars that only rich people could afford. SO, to try to look rich these folks went so into debt that when it came time to renew their plates they simply could not afford to do so. The same went for the huge houses that people bought out there. The houses with bed sheets on their windows showed who it was why had bought more house than they could afford.
Isn't it time for us to make these states and businesses face their own condition squarely? I submit that it is. NO MORE BALE OUTS!!!