Buy (Socialism) Now, Pay Later » Publications » Family Security Matters

Buy (Socialism) Now, Pay Later » Publications » Family Security Matters

One of the more stunning bits of insanity to come out of 2008 is that during an economic crisis caused by "Buy Now, Pay Later" fiscal planning, an administration whose entire economic philosophy was built on "Buy Now, Pay Later" was installed. The problem is that these "Buy Now, Pay Later" plans weren't there for capitalism, but to fund socialism. And now with the national debt tripled, and approval ratings lower than a skunk's at an aromatherapy session, they’re pushing out ObamaCare's "benefits" ahead of schedule. Still Buy Now, Pay Later.

Buy Now, Pay Later had already done a stunning job of undermining the basic financial competence of large numbers of Americans over the years. We moved away from being a country where people understood the value of saving money because consumers were talked into running up credit card debts and taking out loans they couldn't afford. But this was a mirror image of what they saw happening in government at every level, with their leaders spending money non-stop, without any serious thought of when the bill would come due. Companies not only seduced customers into abandoning common sense, but they threw their own financial accountability overboard. Debt became Detroit's real commodity, not steel or muscle cars. Debt became Wall Street's best investment. And as the national debt grew, debt also became America's biggest export to China.