# Personal Debt vs. Government Debt **URL:** \ **Category:** Factual Questions\ **Created:** [May 4, 2009, 12:22am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227 "2009-05-04T00:22:09Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 4, 2009, 12:22am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/1 "2009-05-04T00:22:09Z")
Anyone who reads the news is aware that there has been (and still is, and probably will be for quite some time) a big to-do about the stimulus plan. This thread ain’t to discuss that - there’s plenty of other threads that have been around on this board much longer that deal with that part of the equation, and I’m not about to start up another one. What I’m wondering is why nobody ever focuses on the amount of personal debt in the US? Surely this is as much a problem as government spending… (if someone already addressed this, and I just didn’t find it, please feel free to set me straight…) ---
**Author:** ![muttrox](https://avatars.discourse-cdn.com/v4/letter/m/a8b319/32.png) [@muttrox](https://boards.straightdope.com/u/muttrox)\ **Post date:** [May 4, 2009, 12:47pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/2 "2009-05-04T12:47:35Z")
Why do you think nobody ever focuses on the amount of personal debt in the US? I’ve been reading about it for years. ---
**Author:** ![Bijou\_Drains](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bijou_drains/32/2814_2.png) [@Bijou\_Drains](https://boards.straightdope.com/u/Bijou_Drains)\ **Post date:** [May 4, 2009, 1:20pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/3 "2009-05-04T13:20:46Z")
The current mess was partly a result of too many people running up huge debts on houses they could not afford. ---
**Author:** ![Mycroft\_H](https://avatars.discourse-cdn.com/v4/letter/m/898d66/32.png) [@Mycroft\_H](https://boards.straightdope.com/u/Mycroft_H)\ **Post date:** [May 4, 2009, 2:58pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/4 "2009-05-04T14:58:27Z")
In the last 28 years, since I first got old enough to become aware of the national debt, I’ve seen a lot more discussion of personal debt than national debt. In fact, other than select groups like the Concord Coalition or other minor comments, I’ve only seen extensive discussion about the multi-trillion dollar national debt within the past five months blaming it on Obama and the Democrats. ---
**Author:** ![Keeve](https://avatars.discourse-cdn.com/v4/letter/k/f07891/32.png) [@Keeve](https://boards.straightdope.com/u/Keeve)\ **Post date:** [May 4, 2009, 3:18pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/5 "2009-05-04T15:18:19Z")
What bugs me is that after many decades of “Americans are spending far too much, and getting far too much in debt! This is awful for the nation!”, now all I hear is “Americans are saving far too much, and not spending enough! This is awful for the nation!” ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [May 4, 2009, 4:24pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/6 "2009-05-04T16:24:08Z")
People talk about personal debt all the time. But solving that problem requires 100,000,000 different approaches. You can talk about it all you want, but there is not an “answer.” The federal government is one entity. There isn’t an “answer” there either, but only a very tiny number of approaches can be taken at once so it is talkable about. ---
**Author:** ![yorick73](https://avatars.discourse-cdn.com/v4/letter/y/b5a626/32.png) [@yorick73](https://boards.straightdope.com/u/yorick73)\ **Post date:** [May 4, 2009, 5:00pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/7 "2009-05-04T17:00:29Z")
I think personal debt is more difficult to quantify. I’ve read articles that suggest the average debt load per family is not really as high as it seems. Many people charge everything on a credit card and pay it off in full every month. Should that be considered personal debt? I don’t think they have a good handle on all the variables. ---
**Author:** ![muttrox](https://avatars.discourse-cdn.com/v4/letter/m/a8b319/32.png) [@muttrox](https://boards.straightdope.com/u/muttrox)\ **Post date:** [May 4, 2009, 5:16pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/8 "2009-05-04T17:16:19Z")
Yorick, they know the amounts of that. Responsible economists and journalists can account for it easily. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [May 4, 2009, 5:24pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/9 "2009-05-04T17:24:14Z")
> [@Keeve](#): > > What bugs me is that after many decades of “Americans are spending far too much, and getting far too much in debt! This is awful for the nation!”, now all I hear is “Americans are saving far too much, and not spending enough! This is awful for the nation!” I’ve heard this described as the “[paradox of thrift](http://en.wikipedia.org/wiki/Paradox_of_thrift)”. ---
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 5, 2009, 1:38am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/10 "2009-05-05T01:38:59Z")
> [@Mycroft\_H](#): > > In the last 28 years, since I first got old enough to become aware of the national debt, I’ve seen a lot more discussion of personal debt than national debt. In fact, other than select groups like the Concord Coalition or other minor comments, I’ve only seen extensive discussion about the multi-trillion dollar national debt within the past five months blaming it on Obama and the Democrats. Other responses in this thread support this claim, so maybe I’ve just been missing the boat on this type of discussion, both here and elsewhere. But, it’s worth noting that personal debt currently outstrips even the multi-trillion dollar national debt. > [@Exapno\_Mapcase](#): > > People talk about personal debt all the time. But solving that problem requires 100,000,000 different approaches. You can talk about it all you want, but there is not an “answer.” The federal government is one entity. There isn’t an “answer” there either, but only a very tiny number of approaches can be taken at once so it is talkable about. While there may be a number of different ways to approach this issue, it seems to me that there is in fact one answer - to stop spending more than we earn. It also seems to me that this would be worthy of discussion… ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [May 5, 2009, 2:05am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/11 "2009-05-05T02:05:24Z")
> [@unstrung](#): > > While there may be a number of different ways to approach this issue, it seems to me that there is in fact one answer - to stop spending more than we earn. It also seems to me that this would be worthy of discussion… Well, if it’s that simple then there’s nothing to discuss. But any discussion belongs somewhere other than GQ. ---
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 5, 2009, 2:10am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/12 "2009-05-05T02:10:03Z")
> [@Exapno\_Mapcase](#): > > Well, if it’s that simple then there’s nothing to discuss. > > But any discussion belongs somewhere other than GQ. I’m not sure where I implied it was simple. But if this thread ain’t in the right place, I’m happy to have the mods move it… ---
**Author:** ![Snnipe\_70E](https://avatars.discourse-cdn.com/v4/letter/s/b5a626/32.png) [@Snnipe\_70E](https://boards.straightdope.com/u/Snnipe_70E)\ **Post date:** [May 5, 2009, 2:26am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/13 "2009-05-05T02:26:18Z")
> [@Mycroft\_H](#): > > In the last 28 years, since I first got old enough to become aware of the national debt, I’ve seen a lot more discussion of personal debt than national debt. In fact, other than select groups like the Concord Coalition or other minor comments, I’ve only seen extensive discussion about the multi-trillion dollar national debt within the past five months blaming it on Obama and the Democrats. HUH??? All I ever hear is don’t blame me I inherited the problem. ---
**Author:** ![Mycroft\_H](https://avatars.discourse-cdn.com/v4/letter/m/898d66/32.png) [@Mycroft\_H](https://boards.straightdope.com/u/Mycroft_H)\ **Post date:** [May 6, 2009, 4:01am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/14 "2009-05-06T04:01:16Z")
Hum… maybe I’m just sensitive to hearing a particular slant. I unfortunately live in the district represented by Michelle Bachman who is rabidly anti-Democrat and has been harping on how terrible it is that the debt is now growing with no acknowledgement of deficit spending of the Reagan, GHW Bush or GW Bush administrations. I’ve also heard it mentioned in numerous news reports over the past few months on NPR, with a sharp increase associated with the “tea party” protests last month. ---
**Author:** ![muttrox](https://avatars.discourse-cdn.com/v4/letter/m/a8b319/32.png) [@muttrox](https://boards.straightdope.com/u/muttrox)\ **Post date:** [May 6, 2009, 11:49am UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/15 "2009-05-06T11:49:23Z")
I think the OP is answered. Personal debt is talked about. ---
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 8, 2009, 4:21pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/16 "2009-05-08T16:21:19Z")
> [@Mycroft\_H](#): > > Hum… maybe I’m just sensitive to hearing a particular slant. I unfortunately live in the district represented by Michelle Bachman who is rabidly anti-Democrat and has been harping on how terrible it is that the debt is now growing with no acknowledgement of deficit spending of the Reagan, GHW Bush or GW Bush administrations. > > I’ve also heard it mentioned in numerous news reports over the past few months on NPR, with a sharp increase associated with the “tea party” protests last month. But, (and maybe I’m missing your point) isn’t all that related to government spending, and not personal spending? ---
**Author:** ![Captain\_Carrot](https://avatars.discourse-cdn.com/v4/letter/c/f0a364/32.png) [@Captain\_Carrot](https://boards.straightdope.com/u/Captain_Carrot)\ **Post date:** [May 8, 2009, 4:46pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/17 "2009-05-08T16:46:39Z")
> [@Snnipe\_70E](#): > > HUH??? > > All I ever hear is don’t blame me I inherited the problem. Then you’re hearing what you want to hear, and not even listening to what you yourself have said. ---
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 8, 2009, 4:53pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/18 "2009-05-08T16:53:30Z")
> [@Captain\_Carrot](#): > > Then you’re hearing what you want to hear, and not even listening to what you yourself have said. If you are referring to a previous thread, a link would be nice so that we can all be up to speed. If you aren’t referring to a previous thread, this comment makes absolutely no sense. ---
**Author:** ![Captain\_Carrot](https://avatars.discourse-cdn.com/v4/letter/c/f0a364/32.png) [@Captain\_Carrot](https://boards.straightdope.com/u/Captain_Carrot)\ **Post date:** [May 8, 2009, 5:23pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/19 "2009-05-08T17:23:16Z")
Many previous threads, in which Snnipe lives up to his handle quite well. If you really want me to dig them up I will. ---
**Author:** ![unstrung](https://avatars.discourse-cdn.com/v4/letter/u/a698b9/32.png) [@unstrung](https://boards.straightdope.com/u/unstrung)\ **Post date:** [May 8, 2009, 5:26pm UTC](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227/20 "2009-05-08T17:26:35Z")
> [@Captain\_Carrot](#): > > Many previous threads, in which Snnipe lives up to his handle quite well. If you really want me to dig them up I will. Well, yah, that would seem appropriate… [Next page](https://boards.straightdope.com/t/personal-debt-vs-government-debt/495227.md?page=2)