The United States of America is $15.04 trillion in debt according to multiple sources on the web. The special congressional panel supercommittee failed to reach a deal to balance the government’s budget. By law, automatic spending cuts are enabled including military, education, and health care starting in Fall 2012.
I’m thinking simple. If I was in debt, say, $25,000, then I must declare bankruptcy. My life is a daily nightmare receiving calls from collectors. I can’t live in debt forever. I wonder how some people live life in debt?
In time, the US debt is going to affect the world in negative ways. The inevitable economic global disaster is coming, and the US leads the way. If a person or family loses their home because of debt, then how can the US government survive in debt indefinitely? The government can’t. There is no magic solving the debt crisis. I don’t think it’s complicated. It is common sense for a person or family to avoid bad debt: don’t spend more than earning income or avoid expenses exceeding revenues. Can the government do the same?
I hear economic headlines daily. I remember the US debt when I hear positive economic news such as unemployment going down, GDP increasing last quarter, or a blue chip company reporting profits. It’s good to hear happy economic news. My happiness turns to fear when I remember the US debt.
The Personal Side Of Me Finding Raymond Mar
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