[PGR88]

If my household had an income of 433k and debt of 3.3 million (same proportions as the nation),

Interesting perspective.

Now increase your debt to $4 million, reduce your income about 10% to $390K (due to recession) and increase interest rate to 7%. You suddenly are living on much less. Your neighbor may get surly and steal your unhappy wife, your kids will riot and burn down the garage, and debt-collectors are going to get a lot more aggressive.

[xzins]

I agree with you. It would be a mess.

But what if a new CEO at the head of your business grew your business from 2,600,000 to 3,300,00.

Your income would also grow, and if you’d frozen your expenses and borrowing, you’d be able to pay on your debt and lessen the interest and have even more flexibility. Imagine getting altogether out of debt and never going there again because you’ve learned your lesson.

[tired&retired]

Interesting perspective, except his figures are wrong.