Personal and government debt is massive in our country. The 2015 figures for student debt, for example, indicate that 44.2 million people owed debt totaling approximately $1.52T. That is a massive amount of debt and only represents student debt. Medical, government, and many other forms of debt are equally devastating and represent a serious problem in our country.
Debt can have a serious impact on the economy. For example, student debt is crushing an entire generation of young college graduates. This debt, sometimes as high as $200,000, means that recent college graduates will not buy a new car, or house, or any major expense because their financial wellbeing is completely eclipsed by their debt. This is bad news for an economy that depends on retail sales.
The more debt people incur, the less they participate in the economy.
Providing Debt Relief with Vested Economics
Vested Economics makes it possible to decrease the debt burden for every American.
Our economy requires that people participate. Without participation in the economy, retail sales will suffer across the board.
In a vested economy, it is possible to reduce the debt burden on individuals and businesses, which would stimulate retail sales.