Skip O'Neill – Liberty for All

Ron Paul for A New Direction

American’s are Debt Slaves, see the how large the problem is

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 Debt Slaves
  • Student loan debt in the U.S. is nearing 1 trillion dollars
  • With government support, colleges can raise tuition to whatever they want, and they have. The only thing rising faster than college tuition is our government health care system.
  • Two-thirds of all college students graduate with student loan debt
  • Borrowing for college students is up 100% in the past 10 years
  • Today, 46% of all Americans carry a credit card balance month to month
  • Americans have 600 million active credit cards in the U.S.
  • Consumer debt has increased over 1,700% since we dropped the gold standard and went 100% fiat
  • 45% of cars are now being financed for 6 years
  • 70% of ALL car purchases in the U.S. involve an auto loan
  • 45% of auto loans are subprime
  • Right now 8 million Americans are at least one mortgage payment behind
  • Mortgage debt as a percentage of GDP has more than tripled since 1955

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