America's in Debt Denial

I think that is one very frightening article. How has our nation changed so much just in the past 50 years? When will people start being responsible again?

My dh is in denial. Everytime we have a little money, the first thing he does is want to spend it.I'm always reeling him in. In fact this past week, he was taling about buying this and that with his next paycheck, and I had to remind him, HELLO, we have this thing called DEBT. Lets take care of THAT before we start with something else. ugh.

I do think American in general are very much in Debt Denial. Immediate gratification is tempting enough as it is, and easy access to credit makes it possible to have just about anything without having to pay for it. I just hope our kids' generation learns something from the mistakes our generation is making.

Five and a half years later, we've got more national debt than ever.  Do you think our nation is still in debt denial?

 

Yes. I don't think people know or understand how close we are to economic collapse. People need to pull their heads out of the sand. It's not rocket science. It's simple subtraction. More money is being spent and handing out in the form of entitlements than is coming in. 

Indeed we are. I finally got dh to be fully aware of our debt. Luckily we are not in terrible shape at all comparatively (less than 3k on ccs) but still not out of the woods. We now have a plan of attack in place to get rid of the cc debt and start working on the mortgage. I don't like the feeling of owing so much to his dad. However, among our friends we are an oddity. The rest of my friends seem to not mind digging themselves into a bigger and bigger hole.
 

I think people are more aware so many of us have been hard hit. While we are more aware of the nations debt we are not doing anything about it.  In Washington State last year our elected officials at the state level were asked to take voluntary pay cuts only 9 actually did. You have that type of mentality only a small percentage are actually doing something that will affect the debt issue even in a small matter and its not enough. 

While many in there personal lives are provided they haven't hit dire straights where reliance on credit is a means of getting basic needs met. 

I know I have a much better handle on debt than I did five years ago. With the mortgage crises more people are buying the home they can afford vs the one they dream of. 

I think people are in denial until it literally slaps them in the face. We are starting our new life and I learned a ton about money and spending and first and foremost saving because in the end you can only count on you.