Imagine that your next-door neighbor has an obsessive-compulsive
disorder. Your neighbor is a shop-aholic. Your neighbor buys things that
he doesn't really need. Your neighbor is literally endangering the
future financial security of himself and his family.
What advice would you give your neighbor? (If you really cared about
your neighbor.)
Your neighbor's
total accumulated debt: $113,215.34 (He currently finances much of the
interest payments.)
Total Debt:
Legally-Binding
Obligations
• Imagine your neighbor entered into a contract to buy the
next 50 years of cable TV -- back when cable cost $149/mo for
basic. (He's since added on HBO and Showtime on an expensive à
la carte basis).
• Add some other commitments like alimony and child-support
for multiple wives and offspring.
• He also has some extravagant "investments"
in Pork
Belly Futures Options Trading or contracts which are going
to cost him money no matter what the economy is like in the
future.
Total amount he has committed himself to pay before all these
contracts expire, which currently exceed his income, for which
he has no saved funds, and which currently exceed his future
income expectations: $1,759,192.22
Future Obligations ("unfunded
liabilities"): $202,000,000,000,000 Politicians have told voters: "You are ENTITLED
to this money."
What kind of man would indebt himself to such a degree?
Someone with an emotional or mental problem of some kind.
What kind of politicians would spend money like they do in Washington
D.C.?