Someone Gave Our Gov't a Credit Card

It's been a while since my last "How to Save Money Using Credit Cards" post since I've been off trying to make sense of the financial markets this month. I can tell you that I'm running on empty trying to convince my representatives to do what is right for the country and not to bailout failed business men.

We Already Give You 5 Trillion

Another 700 billion to our deficit - on top of the 5 trillion added for the Freddy and Fanny GSE debt plus 85 billion for AIG - may be they straw that breaks the camel's back.

I've been a longtime advocate for reducing personal debt and simply opening our purses up to bailout the "world" will bankrupt our country. Personal insolvancy is a tragedy for a family; but, government insolvency is catastrophic for our nation and world.

Our Future is at Risk

While the media tries to fear monger you that your savings, 401k and pension is at risk, remember that these are always at risk if exposed to normal stock market fluctuations. You must preserve and protected your capital especially if you're near retirement age.

But the real risk is if our country becomes bankrupt and goes the way of Argentina or Zimbabwe and our dollar tanks. Personally, I would rather take a 20% loss in the stock market than 100% loss due to a worthless dollar.

Credit is Good But Debt is Bad

I'm not an economist nor will I pretend that I'm a financial expert, but I know that debt enslaves us and that paying off my debt frees me to save and invest in the future. I would recommend that you and our government to do likewise.