Has Debt Been Chasing You?

Since september 28, 2007 the national debt has continued to increase an average of 91 billion per day. Concerned? Then maybe we should be telling congress and the white house.

Debt is up, trade is down, and we still don’t know which way to look. It does not matter what they say debt is a form of slavery but debt does give us health care, so it is important that we drive down costs. It was said that Obama prodded congress to pass restrictions on credit-card issuers, saying consumers need strong and reliable protection from unfair practices and hidden fees.
“It is time for reform that’s built on transparency, accountability, and mutual responsibility, values fundamental to the new foundation we seek to build for our economy.” The president said. This could also be found in the Business & Economy Directory with a little looking.

Obama called on congress to send to him, by May 25, a bill that would clamp down on what he says; “Are sudden rate increases, unfair penalties and hidden fees.” He also wants the measure to strengthen monitoring of credit-card companies.  The House of representatives passed the credit-card bill but not after adding a provision requiring banks to apply consumers’ payments to balances with the highest interest rates first. The bill also imposes limits on card interest rates and fees.

It is important to know that debt is contributing to the general publics’ disenchantment with government. The government is well aware of this and seems to be doing everything within their power to correct the issues as fast as possible. We did not get into this situation overnight and areturn from it will be lengthy.

Will we all survive this? I am sure we will, maybe a little smarter definately credit savy and I hope we all start to live within our means or act realisticly when borrowing knowing we can and will repay our debts.