Posted on 05/17/2012 3:16:10 PM PDT by Clintonfatigued
More voters than ever now say they're less in debt than they were this time last year, but a plurality still expects higher interest rates in the near future.
Forty percent (40%) of Likely U.S. Voters now say they owe less money than they did a year ago, according to a new Rasmussen Reports national telephone survey. That's up seven points from last month and is the highest finding since tracking on the question began in April 2009.
Twenty-four percent (24%) still say they owe more money than a year ago, and one-in-three (32%) owe about as much as they did this time last year.
(Excerpt) Read more at rasmussenreports.com ...
Americans are reducing their personal deficits, which is a good sign. Ironically, this may be one reason the economy isn’t growing. Credit-fueled consumption has been a major component in economic growth for years and now there’s much less of that. Still, it’s a good sign that the average Americans are adjusting to the new reality of economics. Now if only the government would follow suit...
Yeah...they all ditched their mortgage....
And health costs...
And food costs...
And transportation costs...
And education costs...
Yep, Washington should follow the lead of California in reigning in costs and balancing budgets.
Ol' Moonbeam "scrooge" Brown knows how it's done!
Thanks Clintonfatigued.
My wife and I have been socking away at our debts for about two years now. So far we have paid off close to 20 grand of needless debt. One more year and we will be virtually debt free.
Congratulations, that’s impressive. When you’re debt-free, you can pay off my debt!
; )
Not much on the specific mechanics of how these “voters” are shedding debt. I’d LIKE to think it is the good old-fashioned American way of honestly and steadily hammering away at what you owe.
But I’m not so sure.
I just had a couple “reduce what they owe” by turning $600.00 in my medical fees over to a bankruptcy attorney.
The central theme of “Economics in One Lesson” is that there are two sides to every economic equation. Someone may be left holding the bag as these people reduce their debt loads.
Yeah....what’s the country’s bankruptcy rate over the past year??? Or, written off accounts receivables?
And the only debts we owe are business related and they will be paid in full by 2014.
We are not going into debt again. We just purchased a car for cash.
We are "Shrugging". I have moved into Non-payroll income sources. I stopped paying Uncle Sam FICA extortion fees in 2008.
When we get the Business Debt paid in full we close it. F#$K Uncle Sam and the Ohio State Gub'ment.
Are you also a Dave Ramsey fan???
RD
Yea....pay off my 7K AMEX.....Like a monkey on my back.........
Yes, listening to Dave Ramsey on a somewhat regular basis definitely helps keep me in line, which in turn helps me keep my wife in line. : )
By the way, did I mention we have 5 kids in our household, and 4 of them in private schools? We are not wealthy by any means either, we are pretty much average income ( on the lower end of average really ).
“Yeah....what’s the country’s bankruptcy rate over the past year??? Or, written off accounts receivables?”
####
I know in the upper middle class area where my office is located, bankruptcies are on the rise, Because we are vigilant and proactive, our A/R is pretty stable.
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