How Does a Trillion Dollar Deficit Affect Your Family?
According to USA Today article written by Michael Collins, "Debt not only suppresses economic growth, it suppresses future wages. The Congressional Budget Office projects that average income in 30 years will be $5,000 less per year if the national debt continues its current trajectory. Using that same data, the Peterson Foundation calculates that average income for a family of four will drop by $16,000 over the next three decades if debt rises as projected. That means you’ll have less money to spend on daily necessities like food, gas and clothing or to put extra money in your savings account or your 401(k)."
"In addition, Higher interest rates also affect credit card purchases, so expenses like buying gas or groceries or even going on vacation will cost more."
What are You Doing Today to Prepare for Tomorrow?
Saving money and investing it, can help ease the cost of living.
If you are a mom in L.A. that makes a difference; Recruiting for Good works collaboratively with you to help fund your families' fun (camp, ridesharing, and travel). If you are interested in learning more about our high purpose personal service; email carlos@jointhepetparty.com.
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