| Show KEEP OUT OF DEBT IS GOOD ADVICE this is a good time to get and to keep out of debt both for individuals and for all governmental groups in times of great prosperity is when depressions are born when business goes belly up one crash follows another their structures falling like a house of cards there has been a sharp rise in indebtedness in this country while it is at a prosperity peak and the consumers debt commercial debt and real estate debt have now topped the highest record in history that is a warning of trouble ahead it is no time to speculate gambling does not pay when the cards are marked against it if we cannot cut down our obligations in boom times what will we be able to do in poor times inquires james P mcdonnell president of the minnesota tax association in commenting on this sharp rise says he with inflation upon us and with the golden opportunity at hand to cut public debt many units of government have gone on a spending spree spending not only the current heavy revenue but creating heavy debt obligations to be paid off at a rainy day period when it may be impossible to do so mcdonald could have gone much further than that but spenders dont like to hear the truth later they will blame everyone but themselves for trouble the reader may not have much influence in keeping down expenditures at large but if he is wise he will watch his own carefully and aim to have a nest egg for any emergency |
