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Politics : President Barack Obama
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To: michael97123 who wrote (16717)4/8/2008 7:24:06 PM
From: RetiredNow  Read Replies (1) of 149317
 
At least you admit that the Iraq war got in the way of this decade's balancing this decades budget. But why do you insist on borrowing money to pay for that war? That's just silly. The smart person borrows money to buy APPRECIATING assets or to invest for a profitable revenue stream. Borrowing money to pay for a depreciating asset or to sink money into a guaranteed money pit is just plain stupid.

If you want to pay for a vanity item, then most responsible financial planners will tell you to pay for it out of current income or save for it and then pay for it. They will all tell you to never borrow to spend on a vanity item, like the Iraq war.
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