Monday, November 01, 2010

The Conservative View: Paychecks and Payment Books

This week's Conservative View, by Adair County Commissioner and conservative activist Russell Turner (R-Stilwell).

The Conservative View
by Russell Turner

Paychecks and Payment Books

We Americans have become a people that, for the most part doesn’t ask what something costs but rather how much our payments will be. Whenever we want to purchase something we want to know if our paycheck is large enough to cover the additional payments that will be required for the new purchase. When I was growing up most of my neighbors, like my parents, tried to avoid going into debt for anything. Many of them lived through the great depression and knew firsthand the pitfalls of being in debt. They understood that anything that you owe for can potentially belong to someone else if you fail to make the monthly payment. I can remember one of my grandfathers telling the story about the time during the depression that he almost lost his home because he owed a small amount of money on it and the payment was due and he had no job or cash to make his payment; fortunately he had a friend that was able to loan him the funds to save his home. Making payments based upon what your paycheck is can be a risky form of economics. Even in the best of times there can be downturns that can cause any of us to be without an income for a period of time.

Borrowing money is always a risk but it can be necessary for economies and business to grow. I was raised to save a nest egg and to have a substantial down payment then borrow the rest. The point that I am trying to make is, while debt can be necessary, we need to be cautious when borrowing. I believe that our government should exercise the same cautions that any good businessman would use in his business.

How would you feel if your grandparents, when they were young, could purchase items on credit and delay the payments for their grandchildren to pay? Any logical person would not think that would be a good idea, especially if he or she was the grandchild that had the inherited responsibility to pay for their grandparents spending spree. If we would only take the time to look at what is going on with our national spending, we are doing the exact thing to future generations of Americans.

It was Thomas Jefferson that said, “It is incumbent on every generation to pay its own debts as it goes”. We Americans will be voting on November 2nd for the people to run our government, I urge you to choose the ones who understand the proper use of paychecks and payment books.     
If you wish to contact Russell Turner, or want to subscribe to his email loop, email him at  


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