The Nation’s Debt
No, we are not going to chat about the national deficit or debt, there isn’t enough time in the day to try to understand why our government, regardless of who you support, consistently spends more than they bring in. Maybe the plan one day is just to go bankrupt with China and then have us remove it off the record! What Bankruptcy? Oh yea… that was removed due to a reporting typo…
This is about the 12.12 trillion in debt that country’s citizens pay interest on. Did you know there is 733 billion dollars that the people share in credit card debt and if you figure the average interest rate is 18% that means the credit card companies may well collect far over 100 billion in interest each year. Ouch! Makes you look twice at that credit score of yours, to reassure yourself you’re not in the lion’s share of that.
Even though there is other bad debt like auto and student loans (of a mere 1.23 trillion, which makes you think we should have more rocket scientists roaming around) the good news is an overwhelming majority of this 12.12 trillion debt is in the housing market. I’m defining bad debt as debt that doesn’t come along with an appreciating asset. Look at it this way if your credit score stinks, you get to be the person participating in all the high interest rates out there putting you in the upper end of the average household yearly interest debt of $6,658. What’s worse is you are not the one securing the all the good debt that so many other people are privy to. It’s like a giant double whammy! Do yourself a favor the next time a struggling score rears its ugly head in your life, don’t shy away and head to the golf course waiting for some miraculous improvement, take 5 minutes and give our system a chance. People usually don’t know a service like ours even exists, so please take a chance. Let’s get some good appreciating assets along with reducing those overall horrendous interest rates. Please call 1-866-595-6313.