It looks to me like we are going to be leaving our kids and grandkids a pretty big bill to pay if we don't learn how to erase our budget deficits and start paying this debt down.
There is a saying that "Every Dark Cloud Has a Silver Lining." While our national debt is spiraling out of control, consumer debt has actually started to show a sight downward tick. The economic meltdown, coupled with tightened lending has kept consumer debt from rising. Unfortunately, our government is strongly encouraging banks stuffed with bailout cash to loosen lending practices. Isn't that what caused this financial crisis? Don't fall for it. Focus on improving "your economy" not the bank's economy. Keep saving more and spending less.
If you are one of the millions of Americans who are just hoping banks start to lend again so you can borrow enough money to make ends meet, it's time to wake up. No one ever borrowed their way out of debt. The silver lining here is that thousands of people every day are now enrolling in debt resolution programs to regain control of their financial lives and eliminate their dependence on destructive debt.
When it comes to debt I say "hasta la vista baby!" Let's wipe it all out.
We get all crazy when gas prices go up and begin screaming we need to reduce our dependence on foreign oil. But oil prices don't hurt our financial futures nearly as much as the thousands we pay in interest to predatory lenders. I say we need a national campaign to eliminate our dependence on high interest credit cards.
Isn't that what the D2P plan is all about? We just need to start letting other people know what we have already learned, or are still learning. Sometimes we would rather have a root canal than talk about finances with strangers but if we don't tell them who will? Changing the way the world sees debt can start with us - just start spreading the word.
I agree word of mouth is very influential. Ask yourself this questions, "How many times have you watch a movie because someone said it was good?" How many times has someone watch a movie because you said it was good? How many times have you not watched a movie or gone to a restaurant because someone said man that movie or food is horrible. Words are powerful.
