Fear: The lingering legacy of the financial crisis

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  • RBB Sandy, UT
    Oct. 13, 2013 9:09 p.m.

    @ one vote

    No, the debt problem helped cause the meltdown. To many people were over their heads. When the recession came, they were to far upside down to recover which made things worse. If you have little debt, losing you job is less catastrophic. Yes, you stil have to payyour bills, but there are less to pay. When you are highly leveraged, it is less likely that you will be able to hold onto assets until they can be sold at a reasonable price.

    Unfortunately, our government has not learned this lesson and continues to spend money it does not have. When rates rise most taxees will have to go to pay interest on the debt.

  • one vote Salt Lake City, UT
    Oct. 7, 2013 6:54 p.m.

    The debt problem is due to the melt down. If it melts down again the debt gets larger.

  • utahcitizen1 Vernal, UT
    Oct. 7, 2013 5:40 p.m.

    I'm one of those that is more afraid to invest in stocks now. I think a good point in the article is that a large reason the economy crashed is that many people had taken on such large amounts of debt that it was unsustainable. While I feel that borrowing to buy a house, car, or education is a good thing if done wisely, I agree that it is wise to invest at least part of my income in savings to better absorb the bumps that inevitably come in life. I think that people's new mindset of not spending as much and saving will add up eventually to a more sustainable, steady growth in our economy.

    I wish we didn't have federal debt. So much of our federal taxes is going to paying off debt/interest we are not seeing much of it returned to us and helping Americans. I think the last estimate I heard was that 41 cents of every federal tax dollar is going to pay off our debt interest. I think beginning to gradually pay our debt down will hurt but if we wait to start until later it will hurt much more.