Thoughts on Debt

Is it any wonder why so many people in this country are in debt? If you think about it we live in a country that is always in debt, but ironically their debt never seems to count against them in the same way our debt counts against us. Why is that? When we spend more money than we have or than we can afford, we run the risk of losing everything, yet somehow our government overspends and they just call it a “deficit“. Why are they allowed to function at a deficit, but we are not? If you think about it, where do they get the money from when they are spending more than they have? Do they borrow it or just print up more money?

I would really like to just be able to say I am functioning at a deficit this week and move on, but unfortunately no one would think that was acceptable if I said it. Aren’t they really setting a tone for American’s to spend more than they have? I assure you that in other countries the credit card debt is nowhere near what it is in this country, although the trend is showing an increase in debt internationally as well.

As American’s this is a definite time to learn from our mistakes and start taking down our debt. Let’s face it you can live without a new TV or a new car, but can you really live without food and shelter? We need to stop putting things on our credit cards that we really can’t afford and start paying cash. I really think that this is the wave of the future in this country, as I just can’t see how credit card companies are going to continue to lend us money if we continue to not make good on our debts.