You have over $270,000 in credit card debt… Are you kidding me?


We’ve all had a friend like this: carefree, world-traveler, always showing off his new toys, never caring about money… until suddenly, he does.

These are the friends who often find their “financially-savvy” friend to ask for advice.  And when we open their books, we are often horrified. It’s amazing how bad some people will let themselves go, financially, before finally asking someone for the help.

I bet we can all agree that if we had a friend who only made $50,000 each year, but had $272,000 in credit card debt, we would seriously worry about their mental health.

If they asked you for help, what would you recommend?

Should they work six extra jobs, so they can continue spending the same amount of money and still never get out of debt?

Should they take on one extra job, while drastically reducing their spending while trying to pay off their credit cards?

And now the scariest part of this article: if the United States Government was an individual, they would be that person!

The U.S. currently brings in approximately $3.64 Trillion in Federal Revenue, and they have a Federal Debt of $19.81 Trillion.

Unfortunately, our government has chosen neither of the options outlined above.  In fact, the choice they have made is akin to increasing their spending dramatically, while cutting back on their hours at work, and playing the lotto with any extra money they come across.

The Republicans have decided they will not take on another job (equivalent of raising taxes) under any circumstances; while deciding to spend even more than ever before (Auto Bailouts, TARP, Pork Barrel Spending Projects, Foreign Entanglements, Increased Military Spending). The Republicans insist we can cut spending, without raising taxes, and get this mess under control. They say this, even though they’ve shown they will not actually cut spending– even when they have control of Congress, Senate, and the Oval Office.

Here’s the truth: in order to make this work, the government would have to cut 49% of its spending for over 10 years in order to achieve this goal.

The Democrats have decided that they do not want to cut their monthly expenses, because they think they can work enough new jobs (raise taxes so much that they can afford anything) to get out of this mess.

Here is the truth, they could raise everyone’s taxes by 56% right this second, and use that money solely to pay off the debt, and it would still take 10 years to get back to even.


  • The debt is too big to tackle by raising taxes without cutting spending.
  • The Debt is too big to tackle by cutting spending without raising taxes.
  • The sooner we all agree to these simple facts, the sooner we can help our dysfunctional friend get back on their feet.
  • We do not need conservatives, we do not need liberals– we need people who can do math.

Anyone out there fit that description? If so… please, please, please run for congress!

[No, seriously. Please run for Congress…  As I wrote here, we need to fill Congress with people who believe in just three simple principles:

  1. Protect the Constitution – every… single… word
  2. All other issues are governed by the 10th Amendment
  3. Government should be small, cheap, and vital to protecting our rights]

This is not about political parties; this is about a person who is riddled in debt looking themselves in the mirror and having an honest discussion with themselves about their spending habits.

Today is the day when they decide that they need to cut back on what they can live without. Today is the day when they decide to get another part-time job. Today is the day when they decide they are going to be someone whom people can count on.

Our federal government was put here to protect our rights, and nothing else.  Now is the time to return to the vision of our Founders, and run our government accordingly. Today is the day to make a plan, execute on that plan, and endure some tough years on our way to achieving the American Dream.

If we don’t… the American dream, as we know it, will not be available to our children in the future.

Todd Hagopian

Todd Hagopian is a former financial advisor, who is now a Global Marketing Director for a Fortune 300 company. He manages two small mutual funds through, in the Biotech and Defense sectors. He currently spends his free time scouring the investment world for Contrarian investments to help him bolster his portfolio's ROI each year, along with writing Conservatarian political articles.

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