2007-01-10 08:14:33 · 22 answers · asked by The Angry Stick Man 6 in Politics & Government ➔ Politics
Greed and stupidity.
2007-01-10 08:17:36 · answer #1 · answered by Anonymous · 0⤊ 2⤋
THere is not one person residing within the U.S. that is indebted to the U.S governemnt against their will. Debts incurred for homes and consumer items are also voluntary. The economy is (generally) great because all these people (way more than emerging or 3rd world countries) are able to obtain these items because of "voluntary debt."
It is possibele, by archaic systems of draconian taxation and mandatory limited ownership to destroy this economy, as with the Soviet Union....
2007-01-10 17:49:29 · answer #2 · answered by Gunny T 6 · 1⤊ 0⤋
i'm not saying the economy is great or not...
but the debt thing, everyone seems to think that people are only in debt for frivolous things (which could very well be true for a vast majority) but they forget to mention the push for americans to spend spend spend by the government to 'help our economy' so there really IS a correlation, despite what some say.
as to 'debt', it doesn't just refer to credit card bills as so many here have suggested (thought they are included) people are in debt because they have past due electric and phone bills, behind on their mortgage, have to put groceries on their credit cards, can't pay their car payment (if they have them), can't pay their insurance, medical bills, the list goes on & on. it's not just because they want that new gadget & they put it on their card, it's that they need to feed house & clothe themselves & their families and have no financial means to do so because they can't find a job that pays even enough to pay for day care, much less rent food, utilities.
there are people that are just scraping by out there, a paycheck away from being homeless, in debt up to their eyeballs because feeding their kids is more pressing than paying the electricity bill this month.
sorry for such the long rant, it just irks me that everyone seems to point all the blame on the people that don't have money, if they don't completely ignore the fact that there ARE people in poverty trying to eke out a living in this crappy job market.
Edit:
thumbs down, huh? i guess some people don't like being reminded of the poverty that a lot of not so fortunate people live in in this country.
2007-01-10 17:31:44 · answer #3 · answered by Anonymous · 0⤊ 1⤋
The US economy has nothing to do with citizens debt. The reason people are in debt is because they think they are owed what they get; they want to keep up with the Jones'; they are greedy, selfish, and materialistic. Credit cards are way too easy to get, and even easier to abuse; among other things. It is in no way the government's fault that citizens are in debt. In fact, I would suspect that the economy is doing great because so many people are spending money; whether they have it or not.
2007-01-10 16:44:02 · answer #4 · answered by Pooky 4 · 0⤊ 2⤋
If the US economy is sooooo bad, why are people literally DYING to get here?
What standards do you hold for a good economy? Where I live, we have restaurants that close periodically because they can't find enough employees. Stores, too. New buildings going up everywhere - homes and businesses. If YOUR local economy is in the tank, so sorry - but some of us are doing quite well, thanks for asking.
2007-01-10 16:20:21 · answer #5 · answered by Jadis 6 · 0⤊ 3⤋
The US economy isn't sooooooo great.
I am amazed, time and again, by the people who continually state, "Only in America..." when referring to opportunity and success stories. This is what makes the rest of the world laugh out loud. Americans live in a ridiculous society of extremes - where there are people guzzling gas in their SUVs and 'needing' the latest and greatest gadgets, while there is widespread homelessness and hunger.
2007-01-10 16:25:53 · answer #6 · answered by Super Ruper 6 · 2⤊ 2⤋
I have a positive net worth. At one time I owed quite a bit. I did this by mostly buying what I needed, not what I wanted. Most people never learn this.
2007-01-11 11:39:31 · answer #7 · answered by Paul K 6 · 0⤊ 0⤋
What does the economy have to do with peoples debt? The two are in no way related.
2007-01-10 16:18:50 · answer #8 · answered by bildymooner 6 · 3⤊ 3⤋
U.S. citizens cannot control their credit card spending,oh yea,i forgot,that is Bushes fault also.
2007-01-10 19:09:13 · answer #9 · answered by schflng 2 · 0⤊ 0⤋
The economy is great BECAUSE people are in debt.
If people didnt spend, the economy wouldnt be what it is.
Nice question!
2007-01-10 16:35:27 · answer #10 · answered by RustyOwls 3 · 1⤊ 2⤋
The US economy is great.
People are in debt because nobody taught them how to control their own money. The two issues are not related in any way.
2007-01-10 16:19:35 · answer #11 · answered by Aegis of Freedom 7 · 3⤊ 4⤋