Lately, an unusual phenomenon has been sweeping the United States. Although our country is known for the freedom it provides for its citizens, millions of Americans are willingly subjecting themselves to financial servitudea form of slavery.
Financial servitude has a long history in the United States. In the 1600s and 1700s, it was very expensive for immigrants to come to America. Most immigrants didnt have money for the trip, so they would find an American benefactor to pay their way. To pay off the debt once they arrived in America, the immigrants would work for up to 8 years in indentured servitude to their benefactors. Both parties benefited from this arrangement. The benefactors gained laborers and apprentices for their businesses, and the immigrants would soon have the freedom to pursue opportunities in the New World.
Today, Americans have rediscovered financial servitude. This time, however, we do not subject ourselves to servitude to find opportunity in the New World, but for new shoes, fancy dinners, expensive cars, and stainless steel appliances. Through credit cards, home equity loans, and other forms of debt, we borrow money until our bills determine...
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