If These Figures Don't Wake You Up Your're Dead

I was looking through the Asheville paper the other day and saw these figures that should certainly get your attention especially if "you owe your life to the company store" as Tennessee Ernie Ford use to sing in 16 Tons. This time the "company store" is the credit card companies and banks.

Did you know that USA consumer debt has grown by over 2 TRILLION Dollars since 1957?

Did you know this equates to owing the company store for every man, woman and child in the United States - $33,000!

Did you know that this year USA INTEREST on national debt will EXCEED the annual deficit?

So what does that mean for you?

What if you earn say $36,000 annually which is really a pittance in this day and age and you have to spend $46,000 in order to survive. Not a rocket scientist to see here that you have outspent yourself which is the national past time of most every American.

Since most Americans are also so caught up in keeping up with the Joneses they don't see what is in store for them in the future.

So contrary to those ads on Rooms to Go most people will be expected to pay interest on that borrowed money. So let's just use 10% for the rate. So now you have added another $1,000.

So next year you are still employed and you are earning that same $36,000 and you have borrowed another $10,000. Now the second year you would have to borrow $11,000 to cover the previous year's $10,000 shortfall for the current year plus $1,000 to pay the interest on the $10,000 you borrowed last year.

Now you have increased your debt to $21,000 so that the yearly interest would be $2,100 instead of $1,000.

Hey if you kept up this little game for another three years you would have a total debt of more than $61,000 and then you would have to borrow more than $16,100 to continue just living a $46,000 lifestyle which I'm sure would be way over that figure by then!

If these figures which are of course probably low for most Americans, don't scare the crap out of you then you are hopeless!

Better look into Wal-Mart shopping instead of even Macy's and start brown bagging that lunch instead of McDonalds.

Hey, if you are not brain dead why not share some comments?

Hugh Simpson