Take away their credit card

President Obama and Congress need an intervention.

Here are the guidelines for an individual’s debt to income ratio:

What’s a good debt-to-income ratio?
36% or less
This is where you want to be.

37% to 42%
You may want to start paying your debts down before you incur financial difficulties.

43% to 49%
This is a high debt-to-income ratio. You may want to take immediate action to reduce your debt.

Above 50%
You should seek professional financial advice to reduce your debt.

Perhaps China is available?

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