APMacro: PF Using Credit


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There are many advantages to using credit. Credit can help people acquire assets. Assets are goods or services that usually retain or increase their value. Ordinarily, a home or post-secondary education is considered an asset. Credit also can help people lead happier lives by enabling them to obtain the goods and services they wish to have now while paying for them in the future. And credit can help people in an emergency.

There are also disadvantages to using credit. Some people make the mistakes of using too much credit in relation to their income; they may then incur heavy burdens of debt from which it is difficult to recover. Many new college graduates, for example, spend a lot of the income from their first jobs repaying large credit card debts they have rolled up while in college. As they spend a great deal of their current income paying for previous purchases, they are left with less money to buy things they would like to have in the present. And if they miss payments or default on loans altogether, they may face serious negative consequences, including the inability to get credit at a later time when it would otherwise make sense to borrow money for a major purchase.

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Gov: Mock House Committees


House Committee hearing
The committee chair calls the committee meeting to order. The chair will distribute copies of the proposed bill to committee members, and read the bill aloud. There is one bill and two pages of expert testimony for each committee. Two committee members were selected to read the expert testimony aloud.

Each committee will break into two groups by party. Within your group, draft two or more amendments that will make the bill more appealing to your constituents. You can delete language, change language, or add new language to the bill. Each amendment must be clear and easy to understand, be no more than 30 words, and include the name of the amendment’s main author or authors. Pass all proposed amendments to the committee chair. The chair will select the order in which the amendments will be discussed.

Move back to your assigned seats for the committee meeting. The committee chair will do the following: Read the amendment aloud. Then ask the amendment’s main author to briefly explain how the amendment improves the bill. Give each committee member an opportunity to comment on the proposed amendment. After all members have commented, call for a vote. If the amendment is approved, the chair amends his or her copy of the bill to reflect the new amendment. Continue this process for the remaining amendments or until time runs out. The committee chair reads the new, amended bill aloud. The chair then calls for a final vote on whether to report the bill favorably to the House floor. If the bill is approved, the chair prepares a copy of the approved bill, including amendments, and gives it to the Speaker of the House.

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