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Published On: Dec 09, 2003 10:42 AM
Total entries in this category:
Published On: Dec 09, 2003 10:42 AM
Hypothetical Phone Call
I just submitted a "soapbox" article to my local
Fort Collins newspaper, the Coloradoan. I thought it was cute so I'm posting it
up here.
I just submitted a "soapbox" article to my local
Fort Collins newspaper, the Coloradoan . I thought it was cute so I'm
posting it up here.
Aggressive Economics or Identity Theft?
by Murray Todd Williams
I'm amused to hear the political ads that are already targeting the Democratic candidates, especially Howard Dean. The biggest message I hear is "The Democrats will raise your taxes!" Sadly, I suspect this simple message may be enough to scare people into voting for the incumbent. I don't see "the people" paying any notice to the deficit spending that has gone on. It's like this nebulous concept that belongs in some obscure footnote.
In my view, the consequences of this runaway spending is more terrifying than Saddam Hussein. I've some up with a hypothetical scenario to illustrate my concern. This is a telephone conversation between me and a customer service rep from the Bank of the People:
BOP: Bank of the People, how may I help you?
ME: I'm calling because I just got this strange credit card statement in the mail.
BOP: Let me just look you up on my computer... okay, there you are. Now, what's your question?
ME: Well, it says here I owe $26,000.
BOP: Wow. (pause) Yep, that's what we're showing, too.
ME: I didn't spend $26,000.
BOP: I'm sorry, but my records show you have.
ME: On what? I've slashed my spending on education, on all my home maintenance projects; I stopped giving to that volunteer clinic down the street. If I spend $26,000, why don't I have anything to show for it?
BOP: You've been fighting terror. You should feel good about that. But that's okay, much of the money has gone to provide U.S. jobs that are rebuilding Iraq.
ME: What jobs? I'm out of work. My brother is out of work. Most of my friends are out of work.
BOP: Do any of your friends work in defense?
ME: No.
BOP: Oh... Well, hey! I've got some good news.
ME: What's that?
BOP: You don't have to pay all at once. In fact, we've sent you a check for $300 to make the first few payments. They're rather small payments. Just a couple hundred a month.
ME: I don't care how small the payments are. I didn't spend that money. Listen, someone else took out this card in my name! This is identity theft!
BOP: I'm afraid my records show the card was properly authorized.
ME: By whom?
BOP: The Congress of the People.
ME: This is crazy!
BOP: Sir, your payments are going to be rather small. I don't see why you're so upset. You'll hardly notice them.
ME: How much is this going to cost me altogether, with interest?
BOP: It depends on the interest rate and the length of the loan. We haven't locked those in yet.
ME: Why not?
BOP: We're showing new charges still appearing up on your card.
ME: Okay, let's say I paid this over the next 30 years at 5% interest. How much would that cost me?
BOP: Let's see... I'm coming up with just over $50,000. That's assuming a 5% rate.
ME: Where am I supposed to come up with that kind of money?
BOP: Sir, your monthly payments are quite low. I understand your budget is tight. Why don't I just increase your credit limit?
Fiscal responsibility and reduced spending used to be the platform of the Republican party. Now somehow it has been coopted by the Democrats. If you think you can't afford to have your taxes raised, what makes you think you can better afford this new runaway debt?
Aggressive Economics or Identity Theft?
by Murray Todd Williams
I'm amused to hear the political ads that are already targeting the Democratic candidates, especially Howard Dean. The biggest message I hear is "The Democrats will raise your taxes!" Sadly, I suspect this simple message may be enough to scare people into voting for the incumbent. I don't see "the people" paying any notice to the deficit spending that has gone on. It's like this nebulous concept that belongs in some obscure footnote.
In my view, the consequences of this runaway spending is more terrifying than Saddam Hussein. I've some up with a hypothetical scenario to illustrate my concern. This is a telephone conversation between me and a customer service rep from the Bank of the People:
BOP: Bank of the People, how may I help you?
ME: I'm calling because I just got this strange credit card statement in the mail.
BOP: Let me just look you up on my computer... okay, there you are. Now, what's your question?
ME: Well, it says here I owe $26,000.
BOP: Wow. (pause) Yep, that's what we're showing, too.
ME: I didn't spend $26,000.
BOP: I'm sorry, but my records show you have.
ME: On what? I've slashed my spending on education, on all my home maintenance projects; I stopped giving to that volunteer clinic down the street. If I spend $26,000, why don't I have anything to show for it?
BOP: You've been fighting terror. You should feel good about that. But that's okay, much of the money has gone to provide U.S. jobs that are rebuilding Iraq.
ME: What jobs? I'm out of work. My brother is out of work. Most of my friends are out of work.
BOP: Do any of your friends work in defense?
ME: No.
BOP: Oh... Well, hey! I've got some good news.
ME: What's that?
BOP: You don't have to pay all at once. In fact, we've sent you a check for $300 to make the first few payments. They're rather small payments. Just a couple hundred a month.
ME: I don't care how small the payments are. I didn't spend that money. Listen, someone else took out this card in my name! This is identity theft!
BOP: I'm afraid my records show the card was properly authorized.
ME: By whom?
BOP: The Congress of the People.
ME: This is crazy!
BOP: Sir, your payments are going to be rather small. I don't see why you're so upset. You'll hardly notice them.
ME: How much is this going to cost me altogether, with interest?
BOP: It depends on the interest rate and the length of the loan. We haven't locked those in yet.
ME: Why not?
BOP: We're showing new charges still appearing up on your card.
ME: Okay, let's say I paid this over the next 30 years at 5% interest. How much would that cost me?
BOP: Let's see... I'm coming up with just over $50,000. That's assuming a 5% rate.
ME: Where am I supposed to come up with that kind of money?
BOP: Sir, your monthly payments are quite low. I understand your budget is tight. Why don't I just increase your credit limit?
Fiscal responsibility and reduced spending used to be the platform of the Republican party. Now somehow it has been coopted by the Democrats. If you think you can't afford to have your taxes raised, what makes you think you can better afford this new runaway debt?
Posted: Mon - December 8, 2003 at 10:39 AM