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The Lessons Learned from Being in Debt

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  • Description

    FBN’s Neil Cavuto on why the government needs to learn to live within its means.

  • Duration 2:07
  • Date

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Transcript

This transcript is automatically generated

They have furious and about this said Dan debt.

I I know I know some argue our arsenal got there he goes again yapping about the dead it's true -- do it on Fox News I do it on fox does a lot.

But that's because I'm worried about this -- a lot this thing is sucking us dry.

And take it from someone who knows.

Being in debt stinks and again I should know because as I told.

-- my views on Fox News a little more than a couple of decades ago I was in the exact same pickle I had gotten cancer and I guided by some incredible medical bills.

It got so bad that -- mortgage wasn't my biggest -- that.

All the money I was flipping back and -- a Visa Mastercard like.

A sweating blackjack player was as a dove I want to that time at this -- chemo doesn't -- only the bills -- -- board well.

Well as you could see it didn't kill me -- to CNBC.

But I did get another disease you CNBC but plot.

I digress enough about me back to me and what I learned I learned that being in debt can -- -- like being a death sentence to.

I never forget how trapped it made me -- How all the money I was paying in finance charges does to keep getting but.

Was money I couldn't stand on anything else that vacations my wife and I couldn't take that.

The gifts we couldn't get the annoying bill collector phone calls we did not answer.

Because here's one thing about -- a lot of money my friends.

Your traps.

That is unless the US government what you -- just print more money.

Now I couldn't print more money back -- You can't print more money now none of us can we have to live within our means or juggle whatever credit lines we have just -- stand around I did that ever so barely.

But I survived barely.

But I discovered that you could only -- run the financial -- for so long.

The -- in over their heads countries just like in over their heads individuals.

Are gone so gone.

So just think about that when we spent 240 billion dollars a year.

Just -- interests.

To keep tabs of our debt.

Man -- man.

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