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Saturday, August 6, 2011

Living Without Debt is a BiPartisan Issue

Most people know that over the last week or so there was a big debate in Congress about the national debt and raising the debt ceiling.  I didn't read up too much on the issue because 1) it makes my head hurt and 2) I haven't really had time.  I've been busy finishing up the 990 for work (my extension deadline comes up in just over a week!) and being a mom and living life.  But I have heard some discussions among my friends that pit Democrat against Republican against Tea-Partiers.

In my circle of friends all three groups are represented.  Although, if you ask my Democrat friends they will say that Republicans are Tea-Partiers and if you ask my Republican/Tea Party friends they will say Democrats are Socialists.  And many other more colorful words back and forth.  And each seems to believe the other will be this country's downfall.

But the one thing they all have in common is that they don't understand where all the waste in government spending is coming from and why it is so impossible to rein it in.  I have my theories about that but I will save that for another time, since this blog is about finances, not my political conspiracy theories.

Living on debt has become the norm in our country, so much so that it is considered radical to say you don't use credit cards and you only buy things when you have cash.  "You have to spend money to make money" is considered a practical way to be a good capitalist.  But capitalism is not about making foolish decisions, it is about a free market and the freedom to create and run individual businesses with whatever dream you may have.  It still doesn't mean a free-for-all of over-spending is a good idea and that wracking up debt is a recipe for success.

In the next few weeks I will be interviewing people from various political philosophies. My hope is that I'll find similarities in attitudes about personal finance, but if not it will bring up some interesting discussions.

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