More Debt, More Spending, More Trouble

 

 

Americans have increased their credit card debt by about 5% during the last few months.

The number of credit card payments over 90 days past due also increased.

Neither of those statistics are good news for a struggling economy. Still, the Federal Reserve continues to print more money. Does anyone see a problem here? The nation’s debt continues to rise, racking up a whopping $ 4 Trillion in interest over the last year. That’s about $12,500 in interest for every man woman and child in America. Does anyone see trouble on the horizon? The United States is approaching FOUR YEARS without a budget. Should that cause alarm bells to ring?

The stage is set for an economic disaster. The only prudent thing to do is stop printing more money, cut spending drastically and create a balanced budget that pays off the national debt without raising taxes.

Anything short of that will be too little, too late. Do you really think political leaders of either party will get the job done?

By Gordon Howie