posted on Feb, 5 2007 @ 07:41 AM
Our debt is only half of our GDP so its no big deal for a family making 100K to owe about 50K. We can afford it. Its not good but its not the end of
I totally agree that our savings hitting a record low not seen since the depression is sad and abhorable but thats not the nations fault. Its that
fault of every American whod rather have a plasma TV or a new car than own a home, long term investments or even stick money away for retirement. This
is both the fault of the short-sighted individual and the swollen government. One expects Social Security Insurance to take care of them and the
other, as long as it can increase taxation, is more than willing to promise it. A promise it never should have made in the frst place because it cant
keep it. I, as I am sure others who live frugally, have just what they need and save at least 20% of their income, do not expect any help from
anybody. Government included.
Theres absolutely no reason people cant save money. Im riding the poverty line, am going to school, live on my own, have a car, and can still afford
to put away at the very least 20% of my wages.
Dont knock anybody up, dont have any addictions or "habits, " pay for everything with cash, and believe it or not, it is possible to get buy without
cable TV, internet access, a flat panel TV, an Xbox360, a PS3, or any other unecessary toy people go into everyday to own.
Rent to Own places, loan shark lenders, and solicitous credit card companies arent to blame. Stupid people with no self control are.
Just what Ive observed living where I do. Its amazing in a ghett-esque area when your neighbor comes home with a new BMW he obviously cant afford yet
his diet is offensive and his home is crumbling to the foundation. Its economic natural selection. Thats all.