Sometimes, when I am responsibly inclined (okay maybe every night while drifting off to sleep), I ponder on my financial situation. Once I start estimating various completion days for my loan payoff in a number of different scenarios, I start to get a little bit depressed. A 30 year loan is a long time. A 15 year loan seems like a long time too. But while that might be depressing, it doesn't seem impossible either.
Then this morning I read this article on CNN. The statement that really hit home to me was that our government's financial irresponsibility translates into "an IOU of around $455,000 per American household." And that is estimated for the debt accrued right now. This doesn't take into effect the debt our country will be in by 2019, when some of that debt is supposedly going to begin coming due. The other statement I find frightening - "Rising costs will ... consume nearly all projected federal revenues ..."
So this leads me to wonder if all this saving I'm doing for retirement will be for naught because our government/society/country will have crashed by then. It also upsets me because I work hard to pay my bills and my debt and I try to remain vigilant about my cash flow - yet the government is allowed to be so irresponsible with their(our) money and you and I will have to deal with the repercussions first hand.
1 comment:
Don't let it get you. It is not your debt and you aren't responsible. You are responsible for your own debts. What will happen? Haven't a clue. If the government is still around in 2019, they will just print more money and the debt will be beyond our ability to comprehend. I have opinions and dreams, but big brother is watching.
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