I thought this was a very relevant and interesting article. In it Knight Kiplinger, Kiplinger’s editor in chief states that our current economic woes are our own doing. “The nation’s perennial overconsumption and undersaving lie at the root of our economic challenges today.”
It’s our own addiction to consumption that has brought us to this point. “Most of our economic wounds are self-inflicted, stemming from our inability to live within our means.” We spend spend spend and save nothing. “America’s household savings rate hovers at just about zero and has occasionally dipped into negative territory.”
Of course our government is a major cause of the problem with their constant calls to spend! spend! spend! and it is the biggest spender in the world. “America’s biggest overspender? Uncle Sam. Perpetual federal deficits force Washington to borrow from its own citizens and, increasingly, from foreign lenders. Repayment will put a terrible burden on our children and grandchildren. Shame on us for abetting this.”
This is our fault too, we elected them and we can un-elect them if we chose to do so. “We citizens say we want Washington to reduce the budget deficit, but we continue to elect congressmen from both parties who apparently think we don’t mean it.”
We here in the Prosper Financial Coaching Division are doing something about it. Our mission is as follows “As Coaches in the Prosper Financial Coaching Division, we are committed to saving this country from financial disaster one family at a time, by teaching our students the proper principles of personal financial management, debt elimination, and wealth creation.” You can help solve the problem too by implementing these sound financial principles in your lives, and then vote for true statesmen, not these crony politicians who have been bought and sold so many times that they’ve forgotten who they’re supposed to represent!
Read the Article:
http://www.kiplinger.com/magazine/archives/2008/09/knight_kiplinger.html
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