I’m a happy guy, by and large. My wife and I have never paid interest on a credit card bill. We own our own home, paid the mortgage ahead of time. We pay for new cars with cash, as we do with lots of other purchases. We both worked jobs with modest incomes. We travel, and we’re generous. I’m a happy guy.
Well I was until I discovered that while I’ve tried to stay out of debt, my government has put me and every other citizen in debt to the tune of $42, 503.98.
Remember those early mortgage payments where the interest was the bulk of them and the principal was a pittance. I guess that’s the case when the government buys a plane or a tank or a taller fence around the White House or more security cameras or more toilet paper for the Congressional Office Building.
Remember those early mortgage payments where the interest was the bulk of them and the principal was a pittance. I guess that’s the case when the government buys a plane or a tank or a taller fence around the White House or more security cameras or more toilet paper for the Congressional Office Building.
Can I expect that one day China will send me a foreclosure notice or a conglomerate of billionaires will auction off all of my belongings or a giant hedge fund take my pension?
The ratio of national debt to the gross domestic product in the US is 105.8%. Not comforting. Maybe this is for sure the time in life to follow the example of government and start spending beyond my means. What do you think?
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