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.
People voted for President Obama because they wanted him to make a lot of changes. Unfortunately the only change he has done so far is to put our country deeper in debt. He has thrown a lot of money at a lot of things and his strategy seems to be that you have to spend more to make things better. This is unlikely to work as it has never worked before in the history of this country.
President Obama has given out so much money that those people who havent gotten any feel slighted. For instance, mortgage rates were lowered for some families that qualified but not for others and this has led to some anger. People have the credit card mentality that they deserve things from the government and they dont understand that the government is we. If we are broke then so is our government.
The stimulus money that Obama and congress passed is all going to come from our taxes. It seems that people think that the government has an unlimited amount of money when in fact they are in debt to us, the people. Many are now trying to see how they can get their hands on some of this money but they dont seem to care that we are all paying the bill. In fact, it might be said that the next generation will have to pay for this and that generation is our children. It is a very sad situation we have gotten ourselves into indeed.
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