MOUNTAIN OF DEBT: Americans' debt stress is easing

[Peacetrain]

The longest part of any journey is the first step out the door.. Americans (average workers) have been under stress for so many years now.. and to have them start to be optimistic about their futures.. is gold

http://news.yahoo.com/s/ap/20090713/ap_on_re_us/us_stressing_over_debt_1



MOUNTAIN OF DEBT: Americans' debt stress is easing
AP


By JEANNINE AVERSA, AP Economics Writer

WASHINGTON – Unemployment is rising. Nest eggs are in tatters. Home values have tanked. And yet surprisingly, Americans are feeling less stress from debt these days.

Chalk it up to the power of positive thinking combined with people saving more, spending less and trimming debt to cope with the recession.

The upshot is that more people are optimistic that they'll eventually be able to get out from under a mountain of bills, a major factor behind the decline in stress from last year, according to a new Associated Press-GfK poll.

[CoffeeCat]

1. Most excellent...

We needed a new economic model--one that wasn't contingent upon us spending like fools
and being so absorbed in materialism--that we start to lose our humanity.

When people realize that debt-free is true freedom, they'll taste that joy and never, ever
want to return to the days where they mortgaged their futures in order to "keep up with
the Jonses".

May this bring us all closer together--and help the people of this planet forge a new path--based on
connecting with one another--instead of competing with one another and impressing each other.

[lapfog_1]

2. It's simply being transferred.

From individual debt to collective debt.

Yet to be seen if we will bite down and raise taxes (repeal the bush era tax cuts would be a good start) to pay down the federal debt.

[MADem]

3. I got off that treadmill a long time ago....cut up the credit cards, lived below my means,

saved my money (didn't do that risky investment crap either, and I have more money now than if I had!), so I've been "OK." Good thing, too, because we've got three of our crowd out of work, and one "underemployed."

[ipaint]

4. Wouldn't those people have enough money then?

They have enough money to spend less, pay down debt AND save. Not a bad place to be in a recession/depression.

When those people do a study on us other average hardworking debt free americans who are an unemployment check or a few hundred dollar bank account balance away from homelessness, with absolutely no job prospects I hope I can read about our stress levels, too.