Thursday, February 14, 2013

My "Paying-For" Problem

 Nancy Pelosi, the remarkably well-preserved former Speaker of the House, has contributed mightily to the ongoing debate about the 6 trillion dollar debt explosion we have endured over the last 4 and a half years. Appearing on Fox News, she told Chris Wallace that it was a “false argument to say we have a spending problem, when in fact we have a budget deficit problem.” To make it even more clear Rep. Steny Hoyer added this valuable insight, “we don’t have a spending problem, we have a paying for problem.”

Far be it from me, a mere business owner who over a thirty year career has managed to overdraw his checking account only once, to question two savvy veteran politicians, but I would say that if you have spent 6 Trillion dollars more than you have collected over 4 and a half years, you have a problem that sure looks and sounds like it has something to do with spending. But if Nancy and Steny and President Obama are convinced that our financial problems have nothing to do with spending too much money, well then, it must be true. I do wonder though how this explanation would hold up down at my bank:

 Wells Fargo Banker:  Mr. Dunnevant, thank you for coming in this morning. We have a problem with your business checking account. It seems that over the weekend you wrote three checks, one to the Melting Pot for $158, another to the Apple Store for $3205, and a third to Martins for $219. However, you only had $2100 in your account, so we have a problem.

Me:  A problem? What? I don’t understand.

Wells Fargo Banker:  Well, generally speaking, one needs to have sufficient funds in an account to cover checks written. In your case, you spent $1482 more than your balance, so there’s a spending problem.

Me:  No, no. You don’t seem to understand. I don’t have a spending problem. It’s more like a deficit problem.

Wells Fargo Banker:……………yes…but that’s pretty much the same thing.

Me:  More specifically, I don’t really have a spending problem as much as I have a paying for problem.

Wells Fargo Banker:  Wait…what?

Me:  Here’s the thing. Yes, my accounts seem to be out of money, but just because I’m broke doesn’t mean I can just stop making investments in my business. That computer I bought over the weekend is going to pay huge dividends down the road in improved efficiency at the office.

Wells Fargo Banker:  I’m sure it will, but Mr. Dunnevant, you are $1482 overdrawn and I will have to charge you $150 for the bounced checks.

Me:  Fine, just put it on my tab. One of my kids will be getting married at some point and then it won’t be long before I’ll have a grandchild. He’ll be good for it, I’m sure.

We are being governed by morons.