Debt Reflection Paper

The United States department of commerce found out that the nation is becoming weaker. Economy had increased how consumers blow their paychecks on unnecessary items. For example, many Americans are not able to pay their rent, yet still buy play stations 4 and a 52 inch plasma TV. Most Americans spend money when going to a gas station, in game purchase or paying full price for clothes. People who pay for items in full price should be more responsible with their money. However, Alyssa Battistoni

In her essay “Stuff is Not Salvation”, Anna Quindlen speaks on the topic of Americans’ ridiculous addiction to purchasing products. Quindlen believes that this addiction is a bigger issue than losing jobs, and even homes. She explains how American’s tend to frequently replace undamaged items and leave old items to gather dust. With the use of credit, one can now purchase items without physical money, resulting in the accumulation of debt. Important things, such as bills and medicine, are often put behind the wants of new items. Her conclusion is that salvation, or happiness, cannot and will not come from purchased items. With the use of various aspects within her piece, Quindlen makes a valid argument towards her statement of “stuff is not

Are you going through a time of despair with little hope? Well if you are, although I hope your not. You may enjoy this essay about a time with very little hope called “The Great Depression”. It took place in October 29,1929-1939. It was a very hard me for everyone with homelessness all over and the stock markets crashing.

In the article titled 'Why Salvation is not Stuff,' Anna Quindlen uses multiple examples, statistics, and personal experiences to clarify her position on the topic of the culture of the consumer. Although the author did not directly state how she believes in this era people are creating a cycle of debt through electronics and discounted toys, Quindlen begins the essay with an example which effects the author emotionally. In addition, she clarifies not only her position, but also how she believes the reader should feel, too. Next, the author uses a story from her own experience to prove how the generation of the past relied solely on the present financial circumstances, rather than how the economy today relies on plastic credit cards. This then gives the reader a sense of respect for the value of even oranges 50-60 years ago because the items were earned rather than received when demanded.

Debtor Nation: The History of America in Red Ink takes us on a journey through the history of debt in America throughout the twentieth century. The history of debt is not something that most people typically think about when they reflect on the history of America. The author does a great job of allowing the reader to witness how each type of debt that we are accustomed to today originated. Each chapter serves as a timeline to help the reader see how debt transformed over the century. We see the initial form of borrowing with retailers offering credit to their customers with no fees (10), to a profitable system where extremely high interest rates were imposed by “loan sharks,” prompting enforcement of regulations (14), all the way through to the late 1990s where two-thirds of American households had

Of all of the hardships facing college students in this day and age, debt one of the greatest. There is a trillion-dollar debt that United States' students are drowning in, and it has become not only a burden on the shoulders of those who have the debt, but in fact, every taxpayer in this country suffers because of this debt. We, as a county, have created the concept of "free money," specifically when talking about loans, credit cards, etc. Without immediate consequences, it is not an immediate threat to those who obtain it. This "free money" can be directly attributed to inflation and a rise in the price of a collegiate education. My parents, who graduated from college in 2001, are still agonized with paying off their collegiate debt. I do

Anna Quindlen, a novelist, social critic, and journalist wrote an intriguing essay “Stuff is Not Salvation” about the addiction of Americans, who splurge on materialistic items that have no real meaning. The ability to obtain credit is one of the main reasons to blame for society’s consumption epidemic. However, Quindlen feels the economic decline due to credit card debt is insignificant compared to the underlying issues of American’s binging problems. Quindlen’s essay gives excellent points regarding the differences in America’s typical shopping habits. Additionally, she mentions how people acquire all this “stuff” but seem to never realize, “why did I get this?”(501). Quindlen makes her

We are all aware of the facts – that materiality is unsustainable; that consumption is overwhelming; that economic gain is all pervasive. Yet we favour ignorance. Time has caught up with us and the self-interested ideals that once held our society together are no longer durable. This has produced a gap, but nothing palpable to replace it with. Hence individuals like you and I must resort to other avenues of fulfilment.

M.T. Anderson’s Feed is a commentary on the greed and consumerism plaguing today’s world. We may not be wired into the “feed”, however the constant bombardment of ads to buy the coolest, newest, and shiniest products are everywhere. These attacks come as we are surfing the web on our computers, phones, and other handheld devices, while watching TV, and trying to study or researching an article. To escape the onslaught of ads, we buy commercial free TV and radio, of course, to pay for these conveniences is an indulgence. It is expected in our culture to overindulge on everything: homes, cars, electronics, clothing, and lifestyles. Self-gratification is available with a click of the mouse or the swipe of finger on a screen. As in Feed with

The debt in the United States has been growing for decades and has accumulated all the way up to 19.9 trillion dollars. This amounts to 61,036 for each person living in the U.S, 157,735 for each household, 104 % of the U.S gross domestic product, and 546% of annual federal revenues. Tackling debt and deficits is a national security issue that affects our ability to compete in the international system. The proportion of U.S. government debt held by foreign entities has significantly increased.

In The United States these past few years everything has gone from bad to worse dealing with spending money; which has developed economical problems, such as debt. Currently people are spending their money on things that they do not need such as iPods, MTV, and so on. They buy things to satisfy their

My husband and I are on our way to becoming debt free and with that comes some challenges. We have set ourselves out to accomplish one hard task: do not spend money on anything, unless it is an emergency/necessity, so we can put as much money into paying off our debt faster. I have two kids who are out of school for the summer and are always wanting to do things, and I can’t blame them. With the task at hand I have been finding new ways to use things we already have in the house. Our textbook states “No matter how old something is, new uses can always be devised for it.” (Ruggiero 98) I have tried to do that with some of the kid’s games. For example, I don’t want my daughter, who was in kindergarten, to lose her math skills on break so I took

"I have run up credit card bills that I didn't know how I would pay off. I recognize when I am engaged in a spending spree, but I often have felt powerless to stop myself. The compulsion to finish the list and to avoid adding other things to the list - by buying them right then - has often been much stronger than the recognition that I didn't have the money to pay for what I was buying" (Spenders Anonymous, n.d.). This excerpt is from the story of a man named Kirk, who is a compulsive buyer. Kirk is not alone; many Americans are controlled by a cycle of working and spending what meager amount they have left to buy luxury items. Sometimes these citizens do not even have the money to pay for what they are buying. Truly, these people are miserable, but the idea that consumerism equals happiness and that they are living free lives is driven into American people since childhood. Consumerism and freedom are key parts of the American dream. The American dream emphasizes hard work and sacrifice, but in return, it promises the possibility of success to everyone, regardless of his or her socioeconomic circumstances. Despite the good intentions behind the ancestral ideal, the American dream has turned into a nightmare.

In our world of instant gratification, people got to save money any way they can. People that shop online need to wait 48 hours before making an impulsive purchase. They are spending too much money on clothes, shoes, and accessories. One can start by cleaning out closets and sell the items that not being worn. In 7 Things Young People Are Spending More Money On These Days, Sam Becker states,This has led many to think that they are a bunch of entitled brats who refuse to grow up. But we have to take into account that millennials are saddled with more debt than any other previous generation, have grown up in a post-9/11 world of perpetual war, and entered the workforce during one of the worst economic stretches in American history. It hasn’t been all beach trips and Mike’s Hard Lemonades, though things are getting better (Becker, sec. 3). He says, The millennials

The world is the influenced by what they see and want to be there, where the low class wants to be like the middle class and the middle class trying to look like the upper class. Today celebrities and people in upper class have influenced our sense of importance and needs, when it comes to the aspect of picking commodities. Thus, many have resulted to high and unnecessary expending in order to imitate a particular social icon. It can be ascertained that almost all average American adult being in debt might be as a result of overspending their need limit. This excessive and unnecessary spending as a result to boost our economic status has led to some drastic tragic events. A Chinese man, Tao Hsiao, 38, on the 9th of December 2013, jumped to his death in a shopping mall at China because the girlfriend would not stop shopping after several hours of shopping ( The Washington Times). “He told her she already had enough shoes, more shoes that she