Are We Addicted To Debt? How You Can Improve Your Credit Score Here ph
Are we addicted to debt? Do we have a natural tendency to overspend? Or is it just a generational trait that we have recently acquired? Globally In November Ireland announced that they needed some financial assistance. The European Union and the International Monetary Fund (IMF) had to bail out the country Ireland for $85 billion Euro or $113 billion dollars. The country was caught with the debt bug not being able to pay on its sovereign debt. Ireland’s issue was a very difficult recession and high debt. Borrowing money but not being able to pay it back. Before Ireland’s debt issue another country had the same fate. Greece also seemed to be addicted to debt. Greece was forced to take a bailout also from the European Union and the IMF. Now there is talk that Spain and Portugal might be next. United States Debt The debt situation overseas also hits home in the United States. The United States has a spending problem. The United States government continues to spend more money than it has coming in. In addition to our spending problem we also have record debt. Our debt is at a high of 13 trillion. Part of the deficit is owned by foreign nations such as China. Our debt situation is so bad that there has been a panel called to make suggestions about the debt. The committee known as the debt panel made some hard suggestion in order to reduce and control the national debt. Some of the suggestions include increasing the gas tax, increasing the retirement age and reducing certain social security benefits. Both political parties could not agree on an
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actual plan to execute. The fact remains that the national debt is a major problem for the United States like it is for the rest of the world. Are we just addicted to spending more money than we have? Are we afraid of making tough decisions? Are we scared make the necessary decisions to pay off debt. Continued on the next page What do you think? Please comment below to tell me and I'll send you a free gift.
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Do's and Dont's of the Credit Card Game Here pf Futhermore: Are We Addicted To Debt?
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