Why Americans Really Don't Care About the Debt Ceiling: Credit is How Most of them Live

When it comes to debt ceilings, Americans all over the fruited plain have no problem raising their own personal debt ceiling all to live a comfortable life. This is why, when it comes down to it, most Americans minus the Tea Party and a small minority, won't care one way or another about the outcome of the debt ceiling. Americans have been conditioned, no matter how many times Dave Ramsey tells you otherwise, that debt is good. It is the way to get the things you want in life.

Need proof?

The Federal Reserve said Friday that consumer borrowing rose $5.1 billion in May, the eighth straight monthly increase. It followed a revised gain of $5.7 billion in April. Borrowing in the category that covers credit cards increased, as did borrowing in the category for auto and student loans.

The overall increase pushed consumer borrowing to a seasonally adjusted annual level of $2.43 trillion in May. That was just 1.7 percent higher than the nearly four-year low of $2.39 trillion hit in September.

One of the reasons, Americans are borrowing more? Because they are falling on harder times meaning they are having to put necessities on credit cards. See the parallel with the current debt ceiling debate? America has fallen on hard times, and the argument is it's going to be painful unless we borrow more money. That's the conditioning that consumers are living out as they borrow more money.

The inevitable will happen just like it happened as cash burdened consumers heavily in debt begin not paying their bills. Remember the housing crisis a few years ago? Of course, when people run out of money and credit, this artificially stimulated with credit economy takes a turn for the worse.