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• Wednesday, April 2, 2008 08:24 PM

  @ Liberal

  Liberal,

  You make a lot of very good points and I would probably have to agree with you in that there are several thousands, if not millions of people that are in serious debt and are now stuck paying them off...My mother in law is one of them, so I know all to well about some of the spending sprees that people have gone on..My grandfather went through the great depression and always taught me the value of a dollar, so i do cherish it and understand through his eyes how bad it got...i would like to think that our government is smart enough to not let history repeat itself, but you never know..what i honestly think will happen is, because of all the debt people have put themselves in we may go into a slight recession, but in due time we should be able to bounce out of it..

  When I see unemployment at 4.5% and companies are still hiring, I believe the economy will be fine..Set back, but fine..I think with what we have gone through, schools should make finance and budgeting a pre-req number of courses to educate our next generation in order to not make the same mistakes we did, because some people just don't understand the word saving and spending what you don't have..One lesson my grandfather taught me that I still use to this day is, if you put a purchase on a credit card, you should have the cash in your bank account to pay it off..I have always lived by that, so I don't go out and buy ungodly amounts of junk that I know I couldn't pay off if something were to happen to me..But I do try to help the economy where I can..When there were talks 6 years ago about a recession after 9/11 occured, the first thing I did was buy an American made car..And that is kind of what I am talking about..Not to go out and just spend to spend, but try not to stop how you live your life because there are talks of a recession..

  I was recently laid off and have been without a job for almost 2 months, but last week I did finally find a job and things are good.. It was the money I saved that helped me and my family get through this..Unfortunately, most people aren't like that or can't afford to..

  And as an FYI, I am not republican or democratic..I am just me..I have my own theories and opinions and don't let political parties sway my decision one way or another..

  And you are slightly older..I am early 30's...I was just a teenager when the last recession occured in the early 90's..

  —jbone54 Read jbone54's other letters
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