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This week in the US, the congressional debt committee disbanded. Parties can’t agree on the way forward. So what do we do next? We better find out because debt affects every one of us.
The hope was that the committee (which was granted unprecedented power) would address the tough problems facing the US budget; issues like the growing cost of health care. This failure means that Congress has let the opportunity go to address the long-term financial problems before they get worse.
The REAL problem is that the growing debt still grows, without a clear intervention. Congress has failed US citizens (this time, at least).
But it ain’t just Congress that are burying their heads in the sand. To a certain extent, every single one of us is.
- We still want to drive gas-guzzling autos
- We still want to sit at home in a t-shirt whilst it’s sub-zero temperatures outside
- We still want to eat high-protein, high-fat foods, and delicacies shipped from far-flung corners of the world
- We still want to wear cool apparel from designer labels
- We still want to fly everywhere
- We still want, want, want…
We don’t wanna change our lifestyles, really (do we?)
Until our consumerism is adjusted (I am not suggesting abandonment) we’ll carry on consuming the same old stuff, ignorant of the fact we can’t afford it. Consumer debt will continue to mount up.
There’s no need for revolution, just yet – we can evolve to adjust what we consume appropriately to our economic situation. I hope.
To do that, we’ve got to first admit that we can’t go on as before.