How long can the everyday American support the heavy burden of personal debt? How long can we continue to support businesses with money borrowed from wobbly banks transferred to our wobbly bent backs.
Heap it on, and we'll work harder longer hours. Becoming more depressed and stressed with little time for the things that bring real honest joy in life. As I have heard said, We purchase things we don't need, with money we don't have, to impress people we don't like. One elderly lady said that our society is, "Keeping up with the Jones on Smiths easy terms." How much pleasure do these carefully justified purchases really bring us? Except maybe satiate our pride and greed?
So what do we do? Not only are our backs bent with the burden we put upon our own selves due to our own desires and greed, but our back is bent further with debt from the very side that told us we "needed to buy now and pay later" as dictated by our "by the people - for the people" government.
This must be done, or credit will "dry up". How much more debt can we absorb. How long will we believe the lie of debt? I know I sound a little bleak and I don't intend too. There are many resources to help those who would like to become debt free. My personal fav is Dave Ramsey. Through his seven step plan my husband and I have become debt free. Byron and I have experienced no panic over the down turn because we are debt free and have an emergency fund, and believe me, I have experienced panic when I was in loads of personal debt. If any time is right for someone to make a plan to be debt free....now is.