Consider this:
A friend of yours gets paid and blows his paycheck. So, he asks his family for some money, and they reluctantly agree. Because he spends more than he earns, the family never sees their money again.
Well, your friend is still wasting his money and has nothing to show for it. So, now he looks to borrow from his friends. Despite their apprehension, they cough up some money for him. As is his nature, he blows the money and continues to live beyond his means.
For some unknown reason, a credit card company decides to take a risk on your friend and sends him a pre-approved credit card. He runs it up and gets behind on his payments. Another credit card company gives him a line of credit, and he maxes it out and defaults on his payments.
Now, let me ask you this: Is it in the best interest of your friend to get another credit card? borrow more money? take out a loan? Will going further into debt help out his situation?
If it is not in his best interest, then why is it in our country's best interest to go into debt by another $800 billion?
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