Excellent point. There is no reason to get rid of debt now as far as the economy goes. Money going to money heaven is so leveraged it has a unreasonable magnification on the real world. Sad state of affairs.
“There is no reason to get rid of debt now as far as the economy goes.”
But there are. Debt is a form of slavery. And the debt slavers will be back in a few years for another bailout when the next economic bubble caused or perpetuated by them starts to deflate.
A better strategy for those of us who aren’t wall street CEO’s is to let the air out of the bubble through the voluntary elimination of debt. What Mr. Ramsey is preaching is indeed a form of economic subversion. But in the long run, it’s a good form of subversion.