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Cultural Attitudes About Debt Debate Continues

Categories: Bankruptcy Law Overview

Bob Lawless over at Credit Slips posted this blog article recently, Cultures, Attitudes, and Debt. What’s great is that he focused more on asking questions of his readers, rather than providing his answers.  You’ll have to check out the comments for yourself on this one as they’re fantastic.

We each bring to the table of society, our judgments, opinions and circumstances about how others should live their lives and condemn those that live out of control. Addictions and debt uncontrolled will ruin families, communities and even countries as we are seeing.  Debt can be a good thing to help society progress, but when the lenders get greedy and set consumers up for failure, then what? Well, you have an economic crisis heard throughout the world with unstable markets and high unemployment.

I believe that we each do the best we can with what we have been dealt in life. We also have the ability to transform our circumstances with education. I also believe in sharing information to those who don’t know and help them to make right choices for their lives financially.

What I don’t get is that why do so many Americans believe in increasing the government’s debt ceiling and allowing our country to fall further in debt? Even after this poor decision we still had our credit downgraded. How are average Americans supposed to live within their means and stay out of debt when the leaders of our free world think it’s a good idea? What hypocrisy.

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