Part-time Columnist

Dallas Morning News column - August 13, 2005

Do too many people in your community live beyond their means? What evidencedo you see that people have too much debt? How serious is this problem? Is this more of an issue in North Texas than in other parts of thecountry?* What does it say about us? Are we too caught up in appearances?

The American Dream, in the Depression era, meant that any person could climb the economic ladder, and take care of their family, through frugality, hard work and perseverance. In recent years, the impatience to acquire status toys that they cannot really afford has driven conspicuous spending and given new meaning to the phrase "keeping up with the Joneses". As individuals and as a nation, we have committed to borrowing from the future - social security, credit card debts, trade deficits are just a few examples. But people are becoming aware of the problems and are coming together as a society. I am not sure what the solution is or where it will come from. But I have enduring faith in the American system. This country has always produced great leaders and as a society overcome many challenges.

posted by Mahesh Shetty @ 7:48 AM