Dear Editor:

I think it's time for all of us "spoiled Americans" to stop and take a good hard look at the way we are spending our money, and begin to realize that when we spend more than our income, we will soon end up deep in debt. It does not surprise me how so many people in America have managed to put themselves in so much financial trouble. The reason for this present day over abundant problem is because too many banks and credit card companies are lending too much money to people who really cannot afford to pay it back. They call this being "underwater" in the financial world, when your total monthly income is less than your total monthly payout.

My wife and I enjoy watching the "Suze Orman Show" on Saturday evening for some good financial wisdom, and we are amazed at how many people call into her show from all over the country, to ask her for advice on how they can get out of their financial deficit.

Now, you would think common sense would wake most people up to the fact that they cannot afford to buy a $450,000.00 house in a pristine neighborhood, when their income is minimal. The even greater problem with this is the bank actually lending them the money to purchase this house, and with this being the main reason there are so many home foreclosures in America today. It seems like the younger generation, just starting out in life, want to begin at the top instead of frugally saving and gradually working their way up to a better life style and standard of living like their parents and grandparents had to do.

America is still by far the greatest country in the world for providing so many opportunities for us citizens to someday achieve the great "American Dream". However, if we are not careful in saving our money, carefully budgeting what we spend, and continuing to be diligent in working hard to accomplish our well earned prosperity, we will most likely end up in a great American "nightmare".

John M. "Jack" Selby

Hometown