Replies

Homeowners Irrationally Choosing to Be Deadbeats: "And so when I read people saying, now, this wouldn't be a big deal; we should test it out; let's take default out for a spin and see how it rides -- and I -- I -- I say, imagine, in your private life, if you decided that I'm not going to pay my mortgage for a month or two. First of all, you're not paying money by not paying your mortgage. You're just a deadbeat. And you can anticipate that will hurt your credit, which means that in addition to the debt collectors calling, you're going to have trouble borrowing in the future. And if you are able to borrow in the future, you're going to have to borrow at a higher rate."

If you are blowing through your budget and seeking a credit limit increase and already owe more to the credit companies than you take in, you should probably cut out giving $445,000,000 to entertainment like Public Broadcasting. You should probably cut back on passing out walking around money to panhandlers. You should probably cut back on gay pride parades and diversity celebration workshops...