The American Dream is all about living beyond one's means. This country was built on unsecured debt, and on unsecured debt it shall surely fall. It is incumbent upon each and every one of us to participate in this important national project by accumulating as much debt as possible.
An estimated 3.7 million Americans are employed by the credit card industry, and those brave men and women depend on all Americans to spend as much as they possibly can on their credit cards. In today's post-subprime-crisis world, credit card debt is nothing to be ashamed of, and it is indeed expected. Opponents of credit card debt cite the need to repay purchases made on credit cards, but fail to note that there are alternatives.
I have an acquanitence who accumulated tens of thousands of dollars in student loan debt, thousands of dollars in credit card debt, and a car loan that he was unable to repay. Rather than "paying down debt" and employing other controversial methods to "repay his loans", he did the smartest thing of all: he fled the country. He is now enjoying the fine life on the shores of the Mediteranean.
Don't forget that credit cards and banks actually WANT you to default on your loans, so that they can write off the "loss" for tax purposes. Otherwise they would not make the loan in the first place. Defaulting on loans is good for the economy, since it provides employment in the debt collection industry and also boosts corporate consumption of telecommunications and even boosts the post office's sales.
So what are you waiting for? Get out there and start spending!!
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