News of The Church of Jesus Christ of Latter-day Saints in the Pittsburgh area, counsel from its leaders, and reflections from its members.

Thursday, July 24, 2008

The Debt Trap

The New York Times recently ran a series of articles entitled "The Debt Trap: A series about the surge in consumer debt and the lenders who made it possible." Along with articles are interactive displays that explain how as a nation we got into the amount of debt we now carry, an average of $118,000 per household. The focus of the series is not on how to get out of debt (the Church offers better help with this); rather, it explains the motives and methods of the financial institutions that encourage people to take on debt. Beware!

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