As many Americans have felt, there has been a dramatic shift in the economy in the past 4 years. Even those who seemed financially blessed have been hit with this drop in economy and it is changing people’s life, young and old alike. For those of you who are out there wondering what this change is, I would ask you, where have you been the past 4 years? The economy tanked in 2008 and though the market has improved some, it still has a long way to go. In fact,
#1 Average household debt in the United States has now reached a level of 136% of average household income.
#2 It is estimated that there are about 5 million homeowners in the United States that are at least two months behind on their mortgages, and it is being projected that over a million American families will be booted out of their homes this year alone.
#3 Today, 46% of all Americans carry a credit card balance from month to month.
#4 700,000 Americans have signed up for a credit card that has interest rates that go as high as 59.9%.
#5 Americans now owe more than $889 billion on student loans, which is even more than they owe on credit cards.
Wow… if you were not aware of the major decline in the economy before, that will show you!
And so though it is good to talk about it and is very important to be aware of what is going on, it is even more important to understand how we as Americans can make a difference in this. I would never blame one person for this major economic catastrophe, because it is just not possible that one person could be responsible for this. However, leadership is key for any country to run successfully, that is why we value our elections so much. President Obama is not to blame for the tanked economy, but he has contributed, and his decisions have effected billions. That is why it is important to understand who you are voting for, and what their stance is on different issues. Don’t neglect this duty as an American. It is an honor and a privilege to have the freedom to vote. Do not take it lightly, and take time to know who it is that you are voting for and why.