Unfortunately, the vast majority of Americans have less than a necessary feel for the true state of the national economy. This situation has developed primarily because conflicting stories about the state of the economy emanate regularly from the White House and the national news media. Human nature being what it is, however, most Americans are underestimating the severity of this recession and, consequently, will likely pay a greater than necessary price if and when reality hits home.

What Is The True State Of The National Economy?

The most direct answer I can provide to this question is to suggest that there are “dark days” ahead – hopefully, for a short while. The following summary facts that are rarely reported should give you insight into the present economy: the current national debt is greater than the combined debt for all the 233 prior years of the country’s history; the country is presently facing $65 trillion of unfunded liabilities; economists predict that currently proposed legislation, if passed, would drive the national debt to “unsustainable” levels; and, finally, the true unemployment rate is not 9.7% as is being reported but rather roughly 18%. (Suggestion: to further your economic education, Google and surf the Internet to confirm the above factual data.)

There’s more, but the above facts are enough to paint an alarming picture that the White House advises “will get worse before it gets better.”

Because it is a generally accepted premise that mismanaging your personal finances will eventually bring down your career, I recommend…

Recommended Courses Of Action

Because it is a generally accepted premise that mismanaging your personal finances will eventually bring down your career, I recommend the following effective ways to organize your lives to survive hard economic times:

Feverishly commit to eliminating your elective debt (credit cards, etc.) not only because present interest rates are routinely onerous, but also because we are likely to see far more penal interest rates in the coming year(s).

My purpose… is not to discourage readers; rather, it is to instill sufficient constructive fear in your hearts and minds to ensure that you will do what is necessary to survive this economy…

My purpose in painting the above economic picture is not to discourage readers; rather, it is to instill sufficient constructive fear in your hearts and minds to ensure that you will do what is necessary to survive this economy. Is there hope for the future? Absolutely, because tens of thousands of Americans are awakening to the realities of this economy every day and, consequently, will no longer take American opportunity for granted. We will become a stronger country than ever before in the near future. Your job is to survive this economy during these few intervening years. Godspeed!