The 10 biggest reasons we're in debt

Despite recent belt-tightening, US consumers still owe plenty. Here are the top sources of personal debt, and how such borrowing affects your finances and the economy.

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VIDEO ON MSN MONEY

6Comments
Feb 24, 2013 10:10AM
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{I thought this slide presentation was run a month ago, or so (?)}

 

Best of luck, fellow Americans!

 

Do your best; get rid of the highest (after-tax) cost debt first.  Communicate with lenders if you're running behind, and watch out for shady consolidation or reduction 'businesses'.

 

Do the right thing if you are able; these are debts you willfully took upon yourself.  When we stiff a lender the costs of that trickle down to other challenged individuals in higher rates and fees.  (not that banks deserve anything)

 

T

Feb 24, 2013 2:05PM
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Now if we can just get rid of paying Congress and the Senate all their benefits and increases in wages for doing nothing but being a burden on the Americans that they are to represent, we would be on our way to debt free.
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I can give you 1 reason Obama lacks experience and he sucks its easy to spend trillions when it isn't yours
Feb 24, 2013 1:14PM
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You want to get rid of debt? Get rid of insane interest.

Feb 24, 2013 1:18PM
Feb 24, 2013 3:45PM
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If our taxes were lower, we could pay our debts.  One reason we can't lower taxes is because the government has made us all pay for the medical bills of illegal aliens to the tune of 10 billion dollars a year.   They need to secure the border, so the number of people crossing illegally will stop.  There is a way to do it no matter what they say.   I can't believe the politicians who are ready to throw the elderly under the bus.   The elderly have paid into social security and medicare their whole working lives and medicare, plus a supplemental insurance still comes out of their measley social security checks.  Our society complains about that, but not about paying for illegals medical bills?

Another tax saver would be to quit sending money to the countries who hate us!

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