. . . when the rest of us are doing precisely and exactly the same thing?
Total household debt rose by $193 billion to an all-time high of $13.15 trillion at year-end 2017 from the previous quarter, according to the Federal Reserve Bank of New York's Center for Microeconomic Data report released Tuesday ... The report said it was fifth consecutive year of annual household debt growth.
There's more at the link.
Corporate America is doing likewise. The latest casualty is Remington Arms, which was "taken private" by Cerberus some years ago in a leveraged buyout. Cerberus has loaded the company with so much debt ($950 million) that it's now driven it into the ground. Remington is looking to shed about $700 million of that debt in bankruptcy proceedings.
If we load up the country as a whole, and our companies, and ourselves, with debt . . . sooner or later that debt has to be repaid. If we don't or can't repay it, we go bankrupt and our assets are either confiscated, or become worthless - as does our reputation (what's left of it) for fiscal responsibility.
Debt is killing us. There's no other way to describe it. What's more, we can't blame our politicians for adding to the national debt when we, as consumers, are doing precisely the same thing with our own debt. Pot, meet kettle. Kettle, pot.