The federal debt enabler
What happens when consumers can鈥檛 afford to borrow and banks can鈥檛 afford to lend?
The Federal government redoubles up its efforts to urge the two unwilling parties to act rationally, play nice and get back to borrowing and spending.
No sense in accepting limitations or even having a consideration for the future鈥� if you need something or some service now but are broke of current dollars well there is always future wealth that can be tapped so long as Uncle Sam is at the helm.
Fannie Mae, Freddie Mac, FHA, SBA, Sallie Mae, Ginnie Mae鈥� it makes no difference which Mae, A or Mac, the government can sponsor you some debt for things like college tuition, starting a business, buying a home and who knows what else.
What kind of half rate democratic debtor nation would we be if we didn鈥檛 mandate equal access to debt servitude?!
On that note鈥� take a look at the latest ratio of federal government owned consumer credit to total consumer credit outstanding.
It鈥檚 currently just over 9%... that鈥檚 up over 75% just the last 12 months鈥�. so 9% of all consumer credit has been brought about by the good graces of our representatives in Washington鈥� aren鈥檛 we all just so lucky?
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