Football

The last Super Bowl I watched was in 1990 from the hospital, where I was with my daughter and my newborn grandson, while his father couldn't be bothered, because he was hosting a Super Bowl party. Today is just another day, two months before the start of baseball season.

PROBLEM IDENTIFIED

As I promised I would, I overspent at Christmas to help the economy. When one credit card bill for $600 arrived, I paid it in full, as I always do, even though it was 6.3% of my annual income. I also spent an additional $500-600 to bring my contribution up to double that amount.

As I was writing my check, I discovered one big reason for the nation's financial problems. On my $600 debt, the minimum payment I could have made was $10.00. That means, even assuming that I made no further purchases on the card, I would only reduce the amount I owed by about $1.00 per month. The figure of 47 years to pay it off that I read in the newspaper seems to be accurate. That means my children and grandchildren could keep paying $10.00 per month until their deaths; or, if they're lucky, find enough in my "estate" to retire the debt.

I say "You're welcome," to my progeny for my fiscal responsibility. But what of those millions of other Americans who make the minimum payment or no payment at all? How can that be good for the economy?