The impossible yet important habit of living below your means
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Re: The impossible yet important habit of living below your means
#2This does not discuss that living beyond the means could be a rational option. If money comes from a bank credit, then in the worst case one declares a personal bankruptcy. As banks are supposed to be nice and do not sent guys with baseball bats to talk about money, the only real consequence is a loss of current possessions and inability to get a new credit for some number of years.
So one could get a credit, party for few years and then live according to the means while having a memory of joyful times. Compared with that an alternative of always living to the means may sound rather dull.
Re: The impossible yet important habit of living below your means
#3This does not discuss that living beyond the means could be a rational option. If money comes from a bank credit, then in the worst case one declares a personal bankruptcy. As banks are supposed to be nice and do not sent guys with baseball bats to talk about money, the only real consequence is a loss of current possessions and inability to get a new credit for some number of years. So one could get a credit, party f…
Essentially you describe the current path of the United States government finances.