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Winning Position: Yes, we need a change
6
No, debt system is necessary
This was a quote presented by my Economics professor. He claims that our social issues are clouding an even bigger global issue- Debt. In the United States, we have trillions of dollars in debt. We have no real solution as to how to solve it, and we aren't even paying back these debts. We are just trying to find ways to reduce the amount we accrue. Globally, many other nations have the same issue. Could this much deficit endanger the safety and security of a nation? Secondly, as I thought about it more. I realized that as Americans we also accrue debt upon debt. We "buy" houses and cars, but in reality they belong to the creditors. It's an illusion that doesn't become evident until after a crash, ask the people who lost homes in 2008. Plus, because of interest, people end up spending more than the value of the item purchased. So, my question: Do you think we need a change; a better way of purchasing High-cost items? If so, any other systems that could help?