In Debt We Trust America Analysis

Debt has been one of America’s largest enemies for the past several decades. Families individuals, and even our own government are spending way beyond their means, and nothing is being done to make a significant change for the near future. So, what can America do to break the barrier between debt and financial freedom? “In Debt We Trust America” was an incredibly eye-opening video for me. Family and friends constantly warn me of the dangers of debt, but I was unaware of just how much of a problem it is. For me, one of the most informational, or perhaps motivational parts of the video, was the portion on students in college. Constant increases in college tuition are putting a more drastic burden on college students and their families. In the video, it mentioned that the
Throughout this past summer, I have become a huge fan of Dave’s show. He has really helped open my eyes like the video to how much of a problem debt is in our country. The biggest takeaway from his show and the video is to not live beyond one’s means. For example, there was a caller a while back who had leased one of their pets. While pets are an enjoyable part of our lives, nobody in their right mind should have a pet if they cannot afford to pay in cash. It is stories like these that show why this country is having such a challenging time with their finances, and continue to fall further into the pit of debt. I am more self-aware of my finances because of this video, and think that I should create a firm budget so I do not spend money on things that I cannot afford, or simply do not need. Some individuals get so far in debt that they constantly are paying interest, and not even making an impact on the lump sum of their loan. If Americans had the mindset to think about what they are buying and to make a budget, I think that debt will become a smaller concern not only for individuals, by for the country as a