Why a Town Hall Meeting in New Mexico?

Is it really necessary that President Obama fly Air Force One to New Mexico for one of his campaign-style (totally staged) "town hall meetings" on credit card reform? According to Reuters, that's what he plans for next week.

Let's do a positive-negative analysis of this.

POSITIVE:

1) People will know that President Obama really cares about their financial struggles.

2) The President can avail himself of some great New Mexican cuisine, if he's smart about it.

3) Gov. Bill Richardson could use some distraction in his life.

4) The mainstream press will have an Obamagasm and something wonderful to report.

NEGATIVE:

1) Air Force One (and it's shadow) will burn over 10,000 pounds of jet fuel, cost the American taxpayer well over $1 million, put a bunch of tons of climate-killing CO2 in the atmosphere (if you believe the administration's own environmental BS).

2) It will cost the State of New Mexico a considerable amount of money to provide law enforcement coordination.

3) Mr. Obama will tell New Mexico citizens that help is on the way on a new law to force credit card companies to treat people better. This legislation is in the pipeline as a result of new Federal Reserve rules adopted LAST YEAR -- when George W. Bush was president. He is taking credit for something his predecessor began.

4) With his own party in control of Congress, there is no need to promote the legislation as there is no serious opposition to it. It is grandstanding for the sake of grandstanding.

5) Financial analysts warn that the legislation, which will mandate lower interest rates, will result in fewer credit cards being issued to consumers, not more. So the effort to "help" will backfire.

I know a few will complain that I have strong negatives and weak, farcical positives in my analysis. The problem is, I couldn't find any positives for this trip. Mr. Obama might as well stay in Washington for his town hall meeting. It would have the same positive effect on the press, he would answer the same questions (since they are planted anyway), and think of all the money he could claim to save.

If the president really wanted to save Americans from the evil credit card companies, several of which owe their survival to the federal government, he would make these points.

* Credit card purchasing can be, and often is, financial suicide to young families. You pay many times over for the money you borrow at rates that are insane.

*Learn to budget and save. Pay cash for the things that you need, and you will discover the difference between "wants" and "needs."

*A $3,000 credit card balance will cost you over $10,000 over time if you can only afford to pay the minimum payments.

*The average American family has over $10,000 in credit card debt. Do the math.

*If you have existing credit card debts, start paying them off and eliminate your credit cards. Pay the smallest first, and use that freed up monthly payment to pay down on the next largest, and so on. It will amaze you how quickly you can become debt free. I would suggest visiting Dave Ramsey's website and learn about his Total Money Makeover program. He also has a book about it.

The American way used to be thrift, savings and hard work. Today it has become profligacy (spending), debt and hard work. The only thing that has stayed the same is hard work.

What is needed is knowledge and an attitude change.

Our president should set an example of thrift and savings with his "town hall meeting" by staying home. Instead he will demonstrate profligacy and debt, since the federal government is spending into record deficits this year, worse than any other year in history.

Shame on him.