Even though a great deal of our economy is now based on spending and
debt, too much of something can be toxic. And that’s what we’ve run
into now. Instead of debt being a driver of economic development, debt
is finally reaching levels at which it is detrimental to the economy.
Subprime mortgage debt is one of the main culprits, but credit card debt
is up there as well. Why? Because individuals get to the breaking point
with personal debt, it will eventually spread to the wider economy.
Consumers can’t buy products, they can’t get loans and *poof* no economic stimulus.
you are in debt, NOW is the time to take action. Do what you can to
rearrange your finances so that you can reduce your debt as fast as