no, he doesn't. everyone has debt, the point is not to have too much, and to use your available credit wisely.
so, the loans tighten up. folks can't buy houses, cars, whatever. what do you think happens, scuds, to those in the housing and real estate businesses, dealerships, factories, etc, etc? they lose their jobs because the buying well dries up. not everyone can pay cash for every big ticket item they buy. and, like a small snowball that you push over the edge, it just gets larger and larger as it rolls down hill....more jobs lost, less money, and so it goes.
i never thought about this outcome, the bill not passing. back to the drawing board, and hopefully a solution.
__________________
Books serve to show a man that those original thoughts of his aren't very new at all.
Abraham Lincoln
|