DEBT OR PRISON

A trillion dollars of debt!  Now that is a figure I can work with.  I can get my arms and brain wrapped around that one.  Multiples of a trillion are now easier to manage.  A trillion dollars, yessss.  Debt is always something you want to reduce to zero.  I am told the happiest people are the ones with no debt and who do not spend beyond their income.  Those are the crazies out there who quietly manage and enjoy life.  They never feel they are owed anything.  Where in the world did they get such a misdirected notion??  Where??

Now back to the trillion.  Just a thousand billion dollars.  Let’s see… if I give half of my $50,000 income to pay down my personal debt of a trillion dollars I will be able to borrow again in 400 million years.  Ok, I up the payment to $250,000 a year and it will only take 4 million years.  Ok, so we get 400 million people to pay 25K per trillion dollars of debt and???   It’s all in the math.  Hmmm, a trillion is bigger than I thought.  I think none of us has any idea how large it really is…  I don’t think the government does either.

OK, math does not work.  There is no logic to it. Let’s pay it off  in 10 years. A 100 billion a year will do it, not including interest, of course.

Now when I get in debt at the mini household level and my credit cards max out I am in trouble.  No more discretionary buying, or should I call it “indiscretionary” buying??  No more going out.  No more vacations.  The predicament is very painful and embarrassing.  I can’t go out and have my card declined in public??  Bad.  How to escape the embarrassment.  Drinking?  With less money and cash??  I don’t think so.  Without my credit card  I am nobody.

Debt used to be so fun.  I was always able to stay ahead of it.  Thought the government….  Thought the government……

Future generations are at risk…  but that is the future…. not now.  But wait, these are my kids and grandkids that my excess has put bullseyes  on their foreheads.  Their dollar will be worth much less.  Bet a Big Mac will be $20.00.

That is prison. …..

Debt or Prison?                             Debtor’s prison….

 

Chris Bent
Kennebunkport, ME
www.chrisbent.com

 

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