Being In Debt

Robin Wilson had quite a compelling article, showing the potential contrast with the debt vs. the quality of life and stability a degree can provide. Wilson overall points show that the American dream we are all striving for has changed. She is able to demonstrate this through the use of several anecdotes. Wilson interviews with various professionals to see how they use these degrees to better themselves. In doing so she highlights various pros and cons of having a college education vs. the amount of debt they are now responsible for.

In recent discussions about college, a controversial issue has been the great amount of student debt owed by students. Hence, many students have opted to not go to college because they do not have the money to pay their student loan debts. In the essay“A Lifetime of Student Debt? Not Likely,” Robin Wilson argues that graduating college with student loan debts is a still better option than not attending college. On the other hand, other people contends that people should not go to college because they will end up in debt for the rest of their lives. My own view is that college is still a worthwhile investment that everyone should seek regardless of the debts they have to pay in the future. In other words, people should go to college. My

Debt, Financial stress, and anxiety are three examples of the risks of wealth, these can lead to a whirlwind of emotions. Debt can be a huge correspondent to causing these emotions. Accusations are made about how life is much easier for the wealthy. Yes, the wealthy have many more luxuries and live better than the poor, but, they are more susceptible to debt, chronic stress, and anxiety. Most wealthy people experience at least one or all three of these risks.

The U.S. national debt is currently $18 trillion dollars and it is rising fast. The national debt today is the highest the U.S. has ever seen. In George Washington’s Farewell Address, he declared the U.S. should avoid going into debt. If the nation end up in a deficit, that the debtors were responsible for paying off the debt so that it doesn’t burden the future generations. Like the rest of this advice in his Farewell Address, the nation ignored it. The ideal goal right now should be to stop the debt from increasing anymore because it is impossible to stop the debt from increasing and expect to pay it off in this generation.

The typical all-American dream is a great paying career, a happy family, and a good home to raise them in. This is, however, only possible by going to college and getting a good education at a high-cost university that buries you in debt. Often when discussing student loans the general consensus are that students are in colossal financial struggles if they obtain degrees at good universities. The myth of crippling student loan debt is, however, not typical.

With regard of college students having a difficult time being able to pay off their student debt, its affecting how they’re not able to transition into adulthood after college. Student debt has been forcing countless college graduates back home with their parents (Houle, & Warner, 2017). A research study looked at different variables that was causing this to occur. They looked at different backgrounds and social class and how it effects who will be able to transition into adulthood and those will not be able to (Houle, & Warner 2017). They examine this occurrence by gather information through survey and longitudinal studies on college graduates. The participants were all born between 1980-1984 who went college. There were 4,578 participants

The total United States national debt is now over 19 trillion dollars and our Congressional leadership shows no signs of accomplishing any significant changes to make the situation better. That 19 trillion equates to almost $59,000 for every citizen of the United Sates. Sound financial practice is to not spend more money than you earn and borrow only for emergencies. It appears our Congress is incapable of adhering to sound financial practices as in the last fifty years there have only been five years when the U.S. recorded a budget surplus. Between 2009 and 2012 the U.S. added 5.5 trillion dollars to its national debt.

Living in debt has become the norm for most U.S citizens, with nearly 80% of the population in some kind of financial dilemma. Even the national government is trillions of dollars in debt, and the main cause is spending money we don't have. If everyone would stop using credit cards, taking out huge loans, and buying houses that they really can't afford, the economy might slowly regenerate. Many people don't understand how fast debt can build up and how much interest rates can increase that debt. Yes, life would be a lot more difficult for many people if they could only use money they actually have instead of paying it back later and adding on debt, but sometimes change is needed. No matter how difficult this change may be to implement, it may

The U.S. national debt is very large at more than three-quarters the size of the economy—and growing federal spending, especially on entitlements, is quickly driving the debt to damaging levels. Federal spending was about 23 percent of the GDP in 2012—far above the historical average of 20.2 percent. It is projected to surge to nearly 36 percent in less than one generation. The government debt must be limited in some way or else our economy will face devastating consequences. The government debt has had its highs and lows throughout history in comparison to the GDP, and to reduce it, we must minimize spending on entitlements such as Social Security and Medicare.

With the United States only now beginning to recover from the throes of the Great Recession, the good American worker (armed with nightmarish memories of mass unemployment and bankruptcy) generally views large amounts of debt in a negative light, with television pundits regularly criticizing the federal government for the $18 trillion of national debt. Entire generations of Americans have been conditioned to view debtors as moochers and failures, unwilling to work hard in order to earn their own money. This negative opinion of debt is further compounded with the historic negative effects of debt: complete loss of assets, homelessness, and bankruptcy. However, contrary to public opinion, the national debt—and, in fact, all debts—will act

We as americans seem to have a very serious problem. By doing some research I have been able to conclude some intresting ideas on what to do to fix our debt problem. First of all we need to stop bwing in wars, the more that we lose the more that we are going to be hurt and deeper in the hole of debt we will go. Second we need to stop paying our RETIRED U.S. presidents so much money it's not helping the fact that they get so much. We need to also need to stop buying so much imported goods. If we can accomplish these simpe tasks we can fix a lot of our debt problems and be a better country.

Is getting a college education worth going into debt? That is a good question and one that I say yes to. There are many reasons to go to college, such as getting that high quality education to go further in the job you currently have, or to get an new job all together. Another reason could be to become a good role model for your kids, or just so you can proudly say you were the first in your family to go and graduate to college. Another reason could be that you simply go because everyone else in your family has been. Whatever the reason, there are definitely benefits to going into debt in order to go to college, because it has almost become necessary to have a college degree to have a good job.

person or the government). A more narrow aspect of debt is student debt, which is the debt that a

Some of the hardest decisions people contemplate are determining how to handle their finances, especially when funds are plentiful. More to the point, few people seek counsel from professionals who are trained to assist them. Consequently, they are likely to become entangled in debt and ill prepared for times when funds are low. While there are a number of reasons why individuals fail to seek professional assistance as it relates to managing money, there is evidence that this is not supported biblically. Proverbs 13:10, states that, "Through pride and presumption comes nothing but strife, but [skillful and godly] wisdom is those who welcome [well-advised] counsel (Amplified Bible).

     The documentary Life and Debt portrays a true example of the impact economic globalization can have on a developing country. When most Americans think about Jamaica, we think about the beautiful beaches, warm weather, and friendly people that make it a fabulous vacation spot. This movie shows the place in a different light, by showing a pressuring problem of debt. The everyday survival of many Jamaicans is based on the economic decisions of the United States and other powerful foreign countries.