Many people are in serious debt and with the economy being in such bad shape, they are in big financial trouble. So many people have either lost their job or are in fear of losing it that there is a lot of worried people out there. Additionally, house values have dropped significantly and credit card rates have gone up. America, as well as many other countries in the world, are in the midst of one of the most difficult times they have ever seen.
This is a great example why it is smart to live within your income and not go into debt. Credit card use in our society has gone out of control and people routinely buy things they cannot afford. It is so easy to get credit cards that many people have 10 or more of them and owe money on all of them. It seems our way of life is built on credit cards and now we are paying the price.
President Obama was elected to make changes and one of the things Democrats always do is give away money. They usually give it away to the poor people to make sure they secure their votes. This has led to a certain segment of the population wanting government handouts and believing they are entitled to them. Many people are desperately trying to figure out how to get some of this stimulus money that is being thrown around.
Obama can’t give money to everyone and so choices must be made. Those that don’t qualify are going to be upset as they are in need too and will feel slighted. This is already happening with the mortgages bailout. Not everyone has qualified for government assistance and many people are disturbed. Some homeowners have qualified for lower mortgage rates and some havent which is upsetting to many when they dont understand why.
The stimulus package that was passed and is distributing money to many sectors is really our tax money. To pay for all of this our taxes will be raised and future generations will undoubtedly have to pay as well. The government is borrowing money on credit and making the same mistake many people do when they borrow too much. How this will all end is unknown but it appears that there will be some dark days ahead.
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