Thursday, February 17, 2011

This might explain why governments won't reign in their spending

Average Canadian family's debt hits $100,000

If the average Canadian doesn't reign in their debt, why would they expect their government to do so?

I note that the article does not address consumer debt, which is a much bigger problem than mortgage debt. If you can't afford your house, you can at least sell it. You can't build up equity with most consumer items.