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View Full Version : Ron Paul: The Pesky Neighbor and the Debt Ceiling




sailingaway
07-25-2011, 09:27 PM
Imagine you had a pesky neighbor who somehow took out a mortgage on his house in your name and by some legal trickery you were obligated to pay for it. Imagine watching this neighbor throw drunken parties, buy expensive cars, add more rooms to the house, and hire dozens of people to wait on him hand and foot. Imagine that he also managed to take out several credit cards in your name. One by one, he would max them out and then use your good name and credit to obtain another credit card, then another and then another.

Each time, this neighbor would claim that he needed the new credit card to pay interest on the other maxed out credit cards. If he defaulted on those cards, your credit score would be hurt and when you wanted to buy something for yourself, it would be more difficult to get a loan and the interest you paid would be higher. Imagine that you mulled this over, and time after time, said nothing as he filled out more credit applications so he would not have to default on the other debt taken out in your name.

Meanwhile, another shiny new Mercedes appears in his driveway. At what point do you think you might get tired of this game? And, even though you are left with no really good options, do you think you might eventually tell him to go ahead and default, just stop spending your money!

This analogy demonstrates the position we are in with our government and the debt ceiling. The government has run up a huge debt in the name of the American people, who are sick and tired of being on the hook for it. There are no really good options left. Defaulting on a portion of the debt may not be without costs, but it is better than handing the government yet another credit card.

http://www.texasinsider.org/?p=49912

more at link

Anti Federalist
07-25-2011, 09:35 PM
http://farm3.static.flickr.com/2680/4406561269_c15277d9f6_o.gif


Imagine you had a pesky neighbor who somehow took out a mortgage on his house in your name and by some legal trickery you were obligated to pay for it. Imagine watching this neighbor throw drunken parties, buy expensive cars, add more rooms to the house, and hire dozens of people to wait on him hand and foot. Imagine that he also managed to take out several credit cards in your name. One by one, he would max them out and then use your good name and credit to obtain another credit card, then another and then another.

Each time, this neighbor would claim that he needed the new credit card to pay interest on the other maxed out credit cards. If he defaulted on those cards, your credit score would be hurt and when you wanted to buy something for yourself, it would be more difficult to get a loan and the interest you paid would be higher. Imagine that you mulled this over, and time after time, said nothing as he filled out more credit applications so he would not have to default on the other debt taken out in your name.

Meanwhile, another shiny new Mercedes appears in his driveway. At what point do you think you might get tired of this game? And, even though you are left with no really good options, do you think you might eventually tell him to go ahead and default, just stop spending your money!

This analogy demonstrates the position we are in with our government and the debt ceiling. The government has run up a huge debt in the name of the American people, who are sick and tired of being on the hook for it. There are no really good options left. Defaulting on a portion of the debt may not be without costs, but it is better than handing the government yet another credit card.

http://www.texasinsider.org/?p=49912

more at link

brushfire
07-25-2011, 09:43 PM
I listened to it on his Texas straight talk voice message - was very good. A copy is also posted on his congressional web page.

Audio for those at work, or trying to multitask:

http://www.youtube.com/watch?v=G38DwNDQ8Cc

Anti Federalist
07-25-2011, 10:42 PM
Printed 30 copies and passed it out to the crew.

Dark_Horse_Rider
07-26-2011, 05:28 AM
Nice one !

Travlyr
07-26-2011, 05:37 AM
Ron Paul gets it right again!

Romulus
07-26-2011, 05:47 AM
*Thunderous applause!*

axiomata
07-26-2011, 05:52 AM
I think a better analogy would be a grown child in order to show our (the parent's) partial responsibility for the mess our child (the government) has gotten into using our good name and good credit.

buck000
07-26-2011, 08:32 AM
"Progressives" might dismiss this analogy, citing the fact that the Government is doing Good Work with that money (you know, old people and children that would otherwise starve and rot in the streets ;) ). It would've been nice to instead talk about that neighbor using that credit to 1) buy guns and ammo to attack his other neighbor because he might be a problem in the future, and 2) give the money to poor people on the streets, because they believe in the Social Contract...

Travlyr
07-26-2011, 12:01 PM
Ron Paul 2012

Defender of Liberty and supporter of the Constitution