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RE: Debt On Track To Destroy The American Middle Class

in #debt6 years ago

This is so alarming. Sometimes I believe the government is looking for available solutions toward solving that particular issue.

Though these debts have helped the country, an increasing demand of these loans will eventually destoy the economy. Imagine a scenario where by most of the middle class citizen have debts. That means they won't be able to fulfill their need unless they can be able to pay the available loans on their table.

In the long run, the economy will be Stark and people will be working just to pay back the loans and not to start new project.

What about the future generations? Did you know that any decrease in taxes, always imply two things:either there was an intense tax increase in the past or the future generations will fill the gap of the reduction by paying a high tax in the future.

Now imagine, this future generations, full of loans (even their parents loans) and victim of their grandparents, parents and previous government decisions.

If something can be done, let it be done to day. If not, we may pay for the things we never did actually such as increased tax, no more loans, decrease in infrastructure expense and other fiscal policies and monetary policies.

@jona12