Tuesday, November 16, 2010

Black Ink, Red Ink, And Grey Ink

America's seniors voted overwhelmingly for "fiscal and social conservatism" from the Tea Party.  Well, it turns out the generation that stuck us with a bunch of Republican revanchists plans on leaving us a lot of other things too:  like their bills.

Retired Americans are racking up credit-card debt like never before, be it for vacations or medical expenses, and a surprising number have no intention of paying it off before they die.

Nearly 40 percent of retired Americans said they’ve accumulated credit-card debt in their twilight years — and aren’t worried about paying it off in their lifetime, according to a survey released by CESI Debt Solutions.

“At the end of the day, some people of a certain age say, ‘It’s too late in the game for me to do anything about it. I can’t win. So I’m just going to stop playing the game,’” said Neil Ellington, executive vice president at CESI.

This may come as a surprise to younger generations who thought their parents, the so-called Greatest Generation, were more responsible than youngsters raised in an era of easy money, a culture of credit. 

Why would this come as a surprise?  A bunch of people puttering around in their Medicare scooters screaming "Hands off my government checks!" and voting for Tea Party Republicans, and anyone's surprised that two in five of them plan to stick their kids with the bills?

That's the American Way, baby.

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