American debt is now 100% of GDP. Who is actually to blame for the financial crisis?

Tips and Deals Forums Debt Management Debt Management American debt is now 100% of GDP. Who is actually to blame for the financial crisis?

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    • #380101
      Anonymous
      Inactive

      We have managed to dig ourselves into a hole. It s always easier to blame the other guy, but the root cause of this problem can be seen in your mirror and your wallet. We have been living out of our means and slowly increasing our debt load for decades now. The last time American debt equaled GDP was right before the Great Depression. We have done this to ourselves in a credit fueled orgy of over consumption. Every McMansion, Suv, big screen television bought on credit, tomatoes in December and bananas in January have led us to this point. The nation is reaching insolvency and we are most likely going to take everyone else with us. America is poised to go out with a bang and you and everyone else in this country has played a part.

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