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Greed and strecthing beyond ones means to get what they should saving for is one of the roots of this problem. Too many people are trying to live the life style of the rich and famous and they do not have the funds to live in that style.
It used to be people saved 20% for a down payment and did not buy house that would strecth them over one person's monthly income. Too many people are allowed to have too much have credit, too ealry in life. The U.S. has a very large personal debt and few personal savings. In addtion we ahve a large our national debt due to too much spnding and cutting taxes. Teh U.S. is now very dependent on foreigbn trse and incme to keep us afloat. It is time to stop consuming. It will be better for us all individually and as a nation. Besides it will help the environment. Unfortunately where I live you have to pay millions to get a tear down.
