Why is it that so many of us are dealing with mounting debt?
Well, thanks to Republicans /conservatives /corporate Democrats /big corporations /big banks /hedge fund managers /and the Feds previous and current policies, speculation and legislation*, the American family and individual (because of these policies/speculation/legislation and low wages) is forced to either work 2 to 3 jobs just to pay for food, clothing, insurance, taxes, shelter, education, health care, transportation, etc.; and/or have to finance these things using credit cards and/or refinance the house (if you have one with equity, and you have good credit); and/or have to do without two or more of the necessities.
Most likely you won't have good health care because you won't be able to afford health insurance; and/or you'll do without a good education for yourself or your children; and/or you'll have no life insurance if a bread winner dies; and/or you may end up homeless, or in substandard housing and drive a beat up (death trap) under-insured automobile (because you won't be able to afford to have that car fixed, or a newer car or other modes of transportation), and etc.
Americans should be outraged ... they should be demanding that corrupt politicians/bankers/hedge fund managers (and others who are responsible for gutting the economy) go to jail, ... and they should be listening to economist Joseph Stiglitz, and professor Michael Hudson, and Max Keiser ... however, what do they do (?), they fire progressive Democrats (like Russ Feingold and Alan Grayson) and hire Republicans.
Anyway, it's a never ending cycle of debt that Republicans/conservatives will not address or fix because they don't want to address low wages, affordable good health care, affordable good education, war and war expenditures, the financial mess on Wall Street, or anything that really matters. They simply want to cut federal spending (which in today's economy has disastrous consequences), repeal health insurance reform legislation, impeach President Obama, and hand everything over to private business and industries and hope for the best. Well, sorry, beside that being a self indulgent, asinine prescription for what ails the economy and Americans, that prescription will not work.**
In fact, they haven't got a clue how to fix it!
Whenever unbridled "Capitalism 201 Gone Wild" comes to town (and it's been here for way too long), debt becomes the only thing that keeps you and our capitalistic system afloat; however, that debt will eventually kill you (and our capitalistic system) in too many ways to count.
Welcome to America.
Update: November 10, 2010As the Country Falls Apart, It's Time for Our Revolution | | AlterNet by Ted Rall
How the Wealthy Organized to Rip Everyone Else off -- And What You Can Do to Stop It | | AlterNet by Maria Armoudian (Nov. 10, 2010)
Rachel interviews Elizabeth Warren
Update: Rethinking How Much We Spend (Nov. 18, 2010)
*New 600B Fed Stimulus Fuels Fears of US Currency (Democracy Now, Nov. 5th 2010 - professor Michael Hudson starts speaking 9 minutes into the above video)
**Nobel Laureate Joseph Stiglitz: Foreclosure Moratorium, Government Stimulus Needed to Revive US Economy , (Democracy Now, October 20, 2010, Stiglitz starts speaking about 13 minutes into the above video)
Make sure you also watch The Keiser Report.