Debt Free In A Sea Of Debt

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As the country struggles under an ever increasing sea of debt, we are awakening to the possibility of “sowing what we have reaped” to the tune of being beholden to countries that are at the least Socialist and at worst Communist. This does not bode well for a nation founded on the capitalist system, whereby free enterprise and the free market have resulted in us becoming wildly prosperous. If we do not turn this ship around and sail out of this sea of debt, it is possible we will eventually strike an iceberg that will make the Titanic debacle look like a walk in the park.

It is no secret that, when an individual, business or government is in debt, they are subject to the rules of the lending institution. As a result, there is less genuine freedom for that individual, business or government to operate in. And, usually, that comes at a cost; a cost defined in monetary value.

The ultimate example is: When we borrow money, we agree to not only pay back the money we borrowed, but with interest established by the lending institution. Examples such as making a car or home loan, the two most common necessities that require more money than the majority of us have on hand, come with the standard interest amount attached. Even so-called “interest free” loans come with a catch; that being, should the loan not be paid within the time frame agreed, an accrued penalty fee is placed against the loan that now makes it even more expensive to pay back. Many of us have done so, especially when acquiring a credit card.

Sadly, this is what our government is doing even as we speak. The prevailing thought is: in order to get us out of the debt we are currently in, we need to spend more money, in the hope that, when things turn around, we will be able to pay that money back. What is even more frightening is the amount of money borrowed against that “hope” from countries normally considered our enemy! The real conundrum here is that the government is free to do this, but we are not. Well, maybe that isn’t necessarily a bad thing. Let me explain why:

As the government continues to rack up record deficits and keeps raising the debt ceiling, we need to keep from doing the same. If we are able to accomplish what an increasingly socialistic government thinks is right, by not going further into debt, we will realize a freedom that is born from becoming debt free.

You can learn more about becoming debt free in a sea of debt by clicking here.