I am a huge Dave Ramsey fan and have been a coordinator for his Financial Peace University class where people learn the novel concept of not spending more than you make. As everyone knows the government is hysterically devising a plan to put us $700 billion (with no cap) into further debt.
Dave is a smart guy and someone who I greatly admire and it's no surprise that he is voicing a debt-free plan to get us out of this mess. It's relevant to this blog because well, we all live in this economy and also because it involves mark to market accounting and the unintended consequences of Sarbanes-Oxley.
Dave wrote an article this week called “How We Can Clean Up A Lot of the Economic Problems“.
The funny thing about going into debt is, well…someday you will have to pay it back. Our great-grandchildren are going to wake up to an America one day that is completely owned by China and the Middle East.