There was a time when parents sent there kids off to college with a credit card there was concern with whether or not they would or could use it wisely. Today, the kids should be concerned about their parents.
Today's "adults" have taken out no limit credit cards in their kids' and grandkids' names without their consent. In the past, some irresponsible parents would steal from the kid's piggy bank. Today, they are stealing their whole future. There is no justification for satisfying our needs by jeapordizing the well being of future generations. In hard times, good parents fed their children before they fed themselves. No more.
If we do not control our spending now, our children and theirs will be making interest only payments on our debt for the rest of their lives. What will they think of us then? Each generation looks back at the past and asks, "What were they thinking?"
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