EFT: Help for a Spendthrift Nation
According to an article that the Federal Reserve put out in November, 2005 titled Spendthrift Nation, for the first time since the depression of 1929, Americans are spending more than they earn — 100% of their after tax income. Many households are in the “red” and have incurred heavy debt. Is this a “bad” thing. Not necessarily. It depends how these individuals think and feel about money whether their circumstances are temporary or longer lasting.
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