Should I open another credit card?

Currently, I have 12 credit accounts including 5 Master Cards, 5 Visa Cars, 1 American Express and 1 Sears card. My total debt is about $52,000 and my income at Burger King is about $14,000. My friend is very intelligent because he ran the Obama campaign in Detroit. He says I should open a few more accounts to pay the interest on the debt of my existing accounts. "Raise your debt ceiling" he is always telling me. Is this good advice? It seems like I've heard it before?


sounds like you're taking advice from acorn




Turn on the bilge pump your sinking.


It would be best to get over 400 credit cards and buy that mansion you always wanted.


Ahh, but the difference is that you can't print more money without going to jail. If you look at the last 100 years of American history the biggest growth has always been when the taxes on the rich were between 70% and 92% and the Federal deficit was over 75%. That is because the jobs the government created meant money was pouring into the economy and creating jobs, that meant more jobs were created in the private sector because there was money to be made which quickly led to more jobs because there was money to be made off of the increased buying of more people working.