Description
Hi, Please answer the question from the prompt below, and generate a question from it about debt. Also, please respond to the student post below: PROMPT: My dad always told me “you only make money in this world with other peoples money…”I didn’t understand what he meant by this when I was younger. For a very long time in my life I viewed debt as an evil. However, after really learning more about debt you start to see it differently. You begin to understand the flow of money and how debt can be used to your advantage. However debt has major disadvantages as well. Discuss how your ideas of debt have changed after experiencing this weeks lecture. Do you view debt as better or worse than before? What are some things about debt that surprised you?
Student Post (respond at least 4-5 sentences)Anna J. Will we realistically ever be able to pay back the national debt of the US?As we know the United States has an insanely high amount of debt, which only got higher because of the pandemic. Is there any possible way for our national debt to be paid off? If so how? While being in a bit of debt is not harmful, and keeps other countries interested in our well being, there’s no way this much debt is beneficial. Are there any actions other countries can take against us because we haven’t paid our debt back to them? How have we not gone to war with more countries over this matter?
Matt G. Should debt be explained differently to young people?Up until this lecture, I thought that debt was bad and the only way to get out of it was to pay it back in full plus interest. Having learned that debt has positives as well as negatives, I wonder should we teach kids that debt does not have to have a negative connotation.
Tags:
credit card
national debt of the US
generating income
increase net worth
payment schedules
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