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According To Americans Borrowing Is The Main Problem In This Economy

4/30/09

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Tags: Economy

From Rasmussen Reports (conducted: 4/26-27/09)

68% say Americans borrowing too much money is the cause of this economic downturn
19% say the lack of credit availability is the problem
12% are not sure

» Commentary by Kris Lazaro (registered Democrat)

In a recent Rasmussen telephone survey the organization found that Americans are placing blame on the fact that Americans in general borrow too much money, leading to the downturn of the economy. They cite the unavailability of credit as the second factor (19%).

This author totally agrees with these results. Personally, this author is so far into debt that it is amazing that bankruptcy has not been declared thus far. It was so easy to get credit and credit cards a few years ago, but now this author along with others are paying the real price of borrowing.

Credit companies should also take credit for putting this country into this mess. If it was not for their greediness all this mess would not have occurred. Predatory lending is also another player in this economic mess.

Now that we have identified the problem it is now time to fix it. There is no sense in crying over spilled milk, rather, a time to learn from our mistakes and move forward.

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