Obama, or Any President, Is Not The Solution

Filed Under Debt |

This morning on my way to work, I was listening to CNN and they were discussing Obama’s speech tonight. The reporter said, “People are getting impatient as their bills pile up and they are falling behind on their payments. They need to hear President Obama say what he’s going to do about it.”

Regardless of what Obama said in his speech, people who are unable to pay their bills today will still be unable to pay their bills tomorrow. Or next week or next month. And it’s frustrating to me that people really do think they can’t pay their bills because of the government.

We have become a nation of debt. I think especially in my generation, people see debt as a financial tool. We expected to leave high school or college and live just as well or better than our parents. Since we could not afford that lifestyle, we easily “borrowed” into that lifestyle. We expect – and receive through borrowed money – instant gratification.

But it’s not just personal debt. Companies are relying on debt to meet payroll, pay the rent on their building, purchase inventory, and so on. When they can no longer borrow money, the tower begins to crumble.

And now here we are. People are losing their homes. Jobs, even so-called “secure” jobs, are being eliminated. Many people owe so much money they cannot see a way out.

Debt has a very powerful grip on this nation and it is painful to watch what this country is going through.

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