Exploring the Cycle of Debt

This is a blog I am starting for an Economics Project in school. Our assignment was to choose a topic dealing with the current issues in today’s economy. Over the course of the semester one of our main focal points was Debt, and why so many people fall so easily into its trap. While learning about the topic we watched Oprah’s Debt Diet. Throughout this series Oprah follows three families all in an unbearable amount of debt and all spending way more than they can truly afford. This Blog is going to discuss the viscous cycle of debt and why so many Americans fall into its grasp.