Grow Folk Business
Ever had bills that had to be paid and there was not enough cash or savings to use to pay them? You have no cash and savings, but you do have a credit card. You pull it out of the sock drawer and use it to pay your bills (mortgage, rent, grocery, power, utilities, etc.). Since you don't have enough cash to pay the credit card balance off every month, the balance grows. You eventually hit your credit limit and your financial situation hasn't changed, so you ask for an increase to your credit limit so you can continue to pay your bills. You get the increase, you continue to pay your bills...and your debt continues to grow. That, my friend, is a very oversimplified explanation of the USA National debt and why the debt ceiling (the amount the government is allowed to borrow to pay its bills) is continuously raised. If the USA defaults (doesn't pay its bills), there are grave economic consequences for the USA and economies around the world could be shaken. Some folk don't ...