return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 2 months agoWhy do Americans pretend they're not broke when most Americans are in debt?message-squaremessage-square208linkfedilinkarrow-up1452arrow-down140
arrow-up1412arrow-down1message-squareWhy do Americans pretend they're not broke when most Americans are in debt?return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 2 months agomessage-square208linkfedilink
minus-squareBronzebeard@lemmy.ziplinkfedilinkarrow-up1arrow-down1·2 months agoHaving debt is not the same as being in debt. In debt = your assets are worth less than your obligations. Having debt = you owe some money to people, but have the property to back up the debt in case something happens.
Having debt is not the same as being in debt.
In debt = your assets are worth less than your obligations.
Having debt = you owe some money to people, but have the property to back up the debt in case something happens.