There’s an apocryphal quote often misattributed to Ben Franklin that goes something like this: “When the people find that they can vote themselves money, that will herald the end of the republic.” While we’re not quite nearing the collapse of...
In 2015 The New York Times profiled Liz Kelley, a Missouri teacher and mother of four who owed the federal government $410,000 (and counting) in student loans. Kelley’s borrowing was not as remarkable as one might think—most of the debt was...
Each day, it is hard to put everything in perspective when you read the news. With stories that are scattered all over the map being mixed in with other miscellaneous “garbage,” the news seems hardly news at all. As our government...
The National debt clock moves so fast that it is impossible to write down the balance accurately at any given time. Just a few hours ago, it was rolling along at $19,860,685,748,210. That’s trillions of dollars! As much as this staggering...
Americans today tend to live like their government. Mortgaged houses, leased cars, heavy credit card debt and student loans to finish college. Two thirds of all students graduating today have some level of debt. While the numbers are always...
I can remember the days before refinancing, adjustable rate mortgages, student loans, automobile leasing and multiple credit cards. Sounds like a long time ago but it actually wasn’t that long ago – sometime in the 1960s. Now maybe for some people...
Not quite the same words that the old Roosevelt song read but the reality of today’s sad situation is that it took 8 years but the Obama administration will leave office with the nation in a severe recession after having spent trillions of dollars...
In a letter to his daughter, Thomas Jefferson wrote this about debt: “Be assured that it gives much more pain to the mind to be in debt, than to do without any article whatever which we may seem to want.” More than a century later, while...
