Sunday, January 29, 2006
Discretionary income
There used to be this stuff we called discretionary income. That was the money left over from your paycheck AFTER you paid for essentials, like food, shelter and clothing.
Then came the credit card, and you spent ahead of the discretionary income, using the left over from essential money to pay for it in installments. Buy things now, keep the economy running by going to the mall and buying more stuff! Almost at your credit limit? As long as you pay the minimum the banks and credit card companies were glad to increase your spending limits. Spend more, it's good for the economy.
Then the credit card companies were given permission to adjust the rates of their cards, upward of course, and after that they were permitted to increase the minimum payments. So that people who were barely making the minimum payment now can't.
Suddenly the bare essentials cost more. Housing is unaffordable, food costs soar, utilities are no longer a stable expense, gas and insurance are through the roof.
We're being priced out of existence. For what? So people who have homes can afford second homes? So kids who don't go to public school can go to more expensive private schools? So families of people who STILL have discretionary income can use it on more consumer goods?
Senators and Members of the House still have discretionary income though. They use OUR money,the money we gave them in our taxes, to impress each other. They are forever spending money WE don't have on things WE don't need while reducing the money for things we do need.
Every time anyone from Washington says they are trying to "help" in this Republican led government I cringe. They have helped alright, they have helped the indurstires
like insurance, medicine, and other big corporations, while reducing spending on health care, education and our nations inffrastructure.
Makes no sense to me. It makes me angry that the governmetn would sell out Americans for a chance to impress the rich and greedy. For a group of people who rely on the good will of ALL men and women in this country to deny the needs of those who need help most is a crime.
I hope someone has the balls to prosecute.
Then came the credit card, and you spent ahead of the discretionary income, using the left over from essential money to pay for it in installments. Buy things now, keep the economy running by going to the mall and buying more stuff! Almost at your credit limit? As long as you pay the minimum the banks and credit card companies were glad to increase your spending limits. Spend more, it's good for the economy.
Then the credit card companies were given permission to adjust the rates of their cards, upward of course, and after that they were permitted to increase the minimum payments. So that people who were barely making the minimum payment now can't.
Suddenly the bare essentials cost more. Housing is unaffordable, food costs soar, utilities are no longer a stable expense, gas and insurance are through the roof.
We're being priced out of existence. For what? So people who have homes can afford second homes? So kids who don't go to public school can go to more expensive private schools? So families of people who STILL have discretionary income can use it on more consumer goods?
Senators and Members of the House still have discretionary income though. They use OUR money,the money we gave them in our taxes, to impress each other. They are forever spending money WE don't have on things WE don't need while reducing the money for things we do need.
Every time anyone from Washington says they are trying to "help" in this Republican led government I cringe. They have helped alright, they have helped the indurstires
like insurance, medicine, and other big corporations, while reducing spending on health care, education and our nations inffrastructure.
Makes no sense to me. It makes me angry that the governmetn would sell out Americans for a chance to impress the rich and greedy. For a group of people who rely on the good will of ALL men and women in this country to deny the needs of those who need help most is a crime.
I hope someone has the balls to prosecute.
