And when the respnsible parents lose their jobsand health insurance? Tough, right? Compassionate conservatism, LOL.
Responsible people would have an emergency fund that could cover health insurance payments. I would also suggest that everyone get into an HSA. Living paycheck to paycheck is as irresponsible as the current congress. In addition, they would also get out there and deliver pizzas as a stop gap.
In full disclosure, I’m not there yet, but I am working very hard to become debt free and have an emergency fund in place. While my co-workers go out to lunch, buy new cars, buy new furniture and sit around complaining that Obama hasn’t sent them their checks yet, I am paying off debt at a rate of $50K the last 2 years.
So, very soon I will have no debt, except my mortgage and I will have an emergency fund that will cover expenses for 6 months. This “downturn” hasn’t touched me and it hasn’t even interrupted my personal financial peace.