Comments on: Overwhelmed by Consumer Debt

By: elyse

elyse — Thu, 23 Oct 2008 15:24:28 +0000

I think that’s a great point. A lot of attention has been paid to those who haven’t saved and have overspent. But what about those who have played by the rules, saving, investing and living within their means? It does seem like they are getting punished for others’ misdeeds. And, what kind of example is this setting, if the people who played by the rules get punished and those who didn’t get bailed out, what will people do in the future?

By: average person

average person — Thu, 23 Oct 2008 15:19:32 +0000

I actually don’t know a single person who has been buying homes, cars and other luxuries that they could not afford, refinancing, racking up credit card bills with interest and not saving money. Yet the news would have me think that everyone was racking up enormous amounts of consumer debt. What I am concerned about is how all the fiscally responsible people will have to bail out the people who were not responsible.