Everyone is not into politics yet it is hard to avoid the latest topic in the news nowadays. We are days away from one of the most catastrophic events in U.S. History if no deal can be reached by August 2 to help the U.S. Debt Crisis. We won’t discuss much of it because I don’t like getting into political debates, however, I had a question come to mind and wanted to know what the U.S. population would do if this thought became a reality. So here it goes.
With all this talk about the debt ceiling and what would happen to the United States if no deal is reached by August 2 on the U.S. Debt Crisis; I couldn’t help but wonder in this giant brain of mine, what would happen if the president decided to wipe all debt from every single individual carrying debt. In every form: student loan debt, personal loan debt, mortgages, credit card debt, auto loans, 401k loans, every single type of debt humanly possible. If President Obama decided to wipe all debt, do you think that you would fall back into your same spending habits that lead you into debt? Do you think you would change your spending habits to avoid debt? Do you think you would take advantage of this situation and only take on good debt such as a new mortgage, if you are not home owner? Do you think that we would be in the same situation as a country thousands of years from now?
I am curious to see what everyone thinks about this. Thanks for the support!