CNN Money: We're Doing Just Fine

[poundwise]

"We see the current economic climate as an opportunity for people to reassess the dangers of debt and to reevaluate the necessity of saving and living within a budget."

"People brought on this recession by living a $1.25 lifestyle on a $1 income for way too long."

"I've always possessed a willingness to deal with a bit of uncertainty. Some people are more security-oriented, and I can understand that. We all have some ability to embrace change, though; even if you have a great job and the economy is stable, nothing is really ever stagnant."

CNN Money: We're Doing Just Fine

[swanson719]

A negative savings rate equates to personal debt. Personal debt equates to needing to change your life-style, or get gov't assistance. Gov't is willing to give assistance, because it gives them power. Gov't power equates to big gov't. Now we have a big, powerful, power-hungry gov't. Gov't got it's power from giving hand-outs. So now it gives bigger hand-outs to try and take more power. But no one has the money to give hand-outs, and the percentage of people with debt in this country is at least equal to the employment rate.

"I owe, I owe, so off to work I go" - Dave Ramsey.

[sweeps]

Originally Posted by swanson719

A negative savings rate equates to personal debt. Personal debt equates to needing to change your life-style, or get gov't assistance. Gov't is willing to give assistance, because it gives them power. Gov't power equates to big gov't. Now we have a big, powerful, power-hungry gov't. Gov't got it's power from giving hand-outs. So now it gives bigger hand-outs to try and take more power. But no one has the money to give hand-outs, and the percentage of people with debt in this country is at least equal to the employment rate.

So what you're saying is when Americans were given the chance to demonstrate "personal responsibility", they failed.

[swanson719]

I would say that government has failed at personal responsibility, not the American people as a whole. Chris Stigalls producer had a comment on his radio show the other day of being able to take this $8,000 hand-out to buy too much house, then getting the government to bail out the too much house that they gave us the money to buy in the first place. He responded by saying "I thought that kind of fiscal ingenuity was left to welfare mothers cranking out babies in the hood"

[Maxwell76]

Originally Posted by swanson719

I would say that government has failed at personal responsibility, not the American people as a whole. Chris Stigalls producer had a comment on his radio show the other day of being able to take this $8,000 hand-out to buy too much house, then getting the government to bail out the too much house that they gave us the money to buy in the first place. He responded by saying "I thought that kind of fiscal ingenuity was left to welfare mothers cranking out babies in the hood"

So tell us what would your solution be?

I won't even bother asking your party affiliation.

[Broken Arrow]

I think there are plenty of blame to go around. Individuals more living beyond their means, banks for underestimating the risk involved in debt instruments, and government for not regulating the banking industry properly....

I like these case studies. It's got a bit of Little Mary Sunshine vibe about it, but it's not wrong. This is what is necessary for all of us to wake up against the dangers of not living in a financially-responsible manner.