While politicians bicker about debt ceilings and government spending, American families suffer under an increasingly hefty debt load.
There are only two ways to retire debt: Pay it off….or default. What is becoming more and more apparent is that Americans’ wages will not sustain the debt load that has been foisted upon them through our government’s inflationary monetary policy. Prices of things we need continue to increase at a rapid rate while wages are falling precipitously. In Michigan the median wage has fallen by over $12,000 per year! At the same time, prices have gone up an average of 4% per year.
It’s pretty clear why more and more people who understand that the math doesn’t work here are advocating for a massive bankruptcy for all of America.