Debt is the weight on our backs
I have learned some hard lessons in my life. As a younger man I tried to start a business of my own. I had no knowledge of business, managing books/money, of leadership nor did I have a real goal. I borrowed money to start this venture and I soon found myself swimming in debt and payments. Before long the whole thing collapsed and I was left with a lot of debt and no source of income.
Since that time, I have studied more closely how money works and grows. How it can be used for and against me. I found something by a fellow named J. Ruben Clark regarding debt that really struck home to me. He stated that "Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation. … Once in debt, interest is your companion every minute of the day and night; you cannot shun it or slip away from it; you cannot dismiss it; it yields neither to entreaties, demands, or orders; and whenever you get in its way or cross its course or fail to meet its demands, it crushes you."
If used wisely debt can be managed and leveraged to be a good thing. That however is the more rare case in our society. More often it is used to enslave people one to another. This is why I do not understand why our political leaders have been so quick to force banks to lend money so easily, especially for those who do not have much. They have made getting a house so easy that literally anyone can walk in off the street and buy a house. This leads to monetary slavery in which the person is enslaved to the lender and must work hard circumstances just to meet the just demands of a legal contract.
Another form of slavery is of one nation to another. We are currently some 11+trillion dollars in debt according to the Treasury Department. To whom are we in debt? To whom do we pay interest? and how much interest do we pay? In August, we paid some 27 billion dollars just in interest. In June, it was over 100 billion dollars. That is money we are just giving to the lenders (mostly Chinese and Russian) so they can build roads, buy food, missiles and guns to prop up their governments. Is this how our money should be spent? I would feel better having burnt the money. Could this money not have been used better? A question to our President and all those in Congress: How many people in our country could eat or have health care for 30 billion dollars a month?
See this link, again our own treasury department.