Friday, July 09, 2010

$165,931,038,264.30...

The first car I ever owned was a 1965 Chevy Impala. It was lavender until I came up with $110.00 to have it painted midnight blue. And it had stock wheels and hubcaps until I came up with $80.00 to buy some chrome wheels off of a guy that had just bought some nicer chrome wheels.

Back in 1971, my Dad went with me up to the Farmers State Bank in Mooreland and promised John Taylor that it would be alright for him to loan me $675.00 to buy that car, and then I promised John that I would pay it back. In one day, with one swipe of the pen, I was suddenly in debt for $675.00. Plus interest. It seemed like a lot of money at the time.

After I read This Story the other day, it doesn't sound like quite as much. On June 30th, the federal debt jumped $166 billion in one day. That amounts to adding about $1500.00 in debt for every household in the country. In one day.

I guess I'd better hurry up and get that car paid off.

Sounds like we've got some more bills coming in.

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