Crawl Across the Ocean

Thursday, December 09, 2004

Hypothetical Scenario for the Day

Suppose for a moment that you have lived a long life and that you know you are nearing its end. You struggled financially some years ago and piled up some debts, but you got things in order and you've managed to pay about a third of them off. Now you have to decide how to spend your last few years. Do you:

a) Do what you can to pay off more of your debts before you pass on
b) Buy a new car, and leave your remaining debts for your children to deal with.

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Just something to think about every time you hear someone recommend that we stop paying down the principal on our (roughly) $500 billion national mortgage so that we can devote more money to tax cuts or spending increases this year.

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3 Comments:

  • I find it interesting that paying down the debt has migrated from being a right wing cause to a centre-left cause.

    By Blogger dejour, at 12:42 PM  

  • Yes, I remember when the Reform party were the real deficit hawks. Of course that was back when Preston was in charge before the whole Western conservative movement had become all the things it was founded to try and change.

    By Blogger Declan, at 1:06 PM  

  • dejour: FYI, Andrew Spicer has posted a follow-up to your comment over at: http://www.andrewspicer.com/

    By Blogger Declan, at 1:02 PM  

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