by Das Govind

Created on: December 02, 2009   Last Updated: December 03, 2009

Why is America in debt? America is a nation that survives on credit in order to survive. America has been known to many as the land of opportunity. This means the land of materialistic bliss. people in this country survive on material wealth, possessions like fancy cars and designer clothing in order to be happy. Everyone wants to be bigger and better than the next person. People in this country only know the motto, spend, spend, spend. People spend money on objects that they desire, making them look bigger and better. Material wealth has brought Americans down on their knees.

People in this country live on credit. banks in the past where happy to give people big interest bearing loans, and people always put the repayments on hold. Everyone wants something that is bigger and better than the next person. they do not think of the next day. The culture is a 'now' attitude. Many people in America have big mortgages. There was a time when house prices where rises, and people foolishly went in for the highest mortgage, The interest on these mortgages sometimes makes the house worthless. This is what is happening in present day America. Americans now own houses which are worthless. The house prices are falling, and the mortgage in most cases is sometimes more than the house.

It is this individualists culture that has brought this country down on it's knees. American companies are also in huge debt. General Motors is just one company which has made mistakes due to greed. Greed is the number one reason why most of the banks in America are struggling to keep afloat. Many people have lost their job since the start of the recession. Many companies have been crippled by the recession, due to past decisions, based on greed. Why is America in debt? America is in debt because of the culture which is GREED. GREED HAS DONE THIS. It has become part of the American culture to WANT, WANT and WANT SOME MORE.

Why is America in debt? America is in debt because of credit. credit has brought this country down. It starts from the man on the street and goes up to big companies, owned by multi-billionaires. America is bleeding because of the unwise choices people have made due to credit.

Why is America in debt? America is in debt because of the above factors, but the government is also to blame. The government over the years has encouraged this culture, and now the majority of Americans are leaning on one man to put all this right.

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