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RE: DEBT - America, no longer the Land of the Free?
I agree totally. Deficits are out of control and the banks keep printing money at insanely low interest rates. Every time this has happened in America's past, it ends badly. Simply not sustainable. What are your thoughts about what to do about this?
Thanks for the vote and the comment @vdux. Sadly history is repeating itself. When the 'children' get to vote for how late they get to stay up and how much their weekly allowances should be and to vote for what rights they can enjoy while they live at home regardless of whether their parents can pay for it or not then you have a recipe for financial disaster.
Sadly no politician gets elected, or if they do they don't stay in office very long, by saying, 'let's live within our means and trim back on the spending'.
The only thing that individuals can do is to get out of debt and build a rainy day emergency/opportunity fund, their personal life jackets, life boats and to have a plan on how they will get off the boat when it takes on too much debt load and starts to sink.
Your thoughts on what to do?