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by Chip Hanlon  |  | PUBLISHED: May 21, 2008 AT 8:39 AM |   | |

Borrowed consumption is alive and well... had to pass this one along:

Driving into the office on Friday, I'm listening to the local radio station congratulate the highest bidder for tickets to the station's big annual concert.  Proceeds from a silent auction through the station's website went to charity and the high bidder got backstage passes, car service to and from the event and more-- the whole treatment.

So they ask the winning bidder what he did for a living that he had $3800 to throw at these tickets, albeit for a good cause.  His reply?

"It's called a H.E.L.O.C.  That's home equity line of credit."

Ay yay yay.  Enough said.

we have a 50 trillion dollar unfunded liability and wont scrap the income tax in favor of a consumption based tax. what do you expect? this is no surprise

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