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Controlling Debt

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Call us old fashioned, if you will, but excessive deficit spending, whether by Uncle Sam or a growing number of American families has us concerned.

Debt, it seems, is trendy.

On the government side, the “tax less, spend more” attitude in Washington is alarming. No one in the nation’s capitol, of either party, is doing much to balance the federal budget.

One day, the piper will have to be paid.

The same holds for individual and families. Of special concern lately is what’s happening with the booming housing market, fueled by free-wheeling lending in the form of interest only and adjustable rate mortgages.

Easy money can be addictive and financially dangerous, especially when consumers end up using equity in their homes to satisfy unnecessary spending whims.

Ordinary citizens may not be able to do much about reining in federal spending, but they can and should do something about their own budgets. With determination and a hefty dose of self-restraint, debt can be controlled and used for beneficial purposes. Out of control, though, the potential for disaster always looms.

In KSL’s view, controlling debt, even avoiding it whenever possible, ought to be among the highest priorities for Uncle Sam, as well as every household in America.

If that’s old fashioned, then we plead guilty.

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