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Unformatted text preview: interest rates are the reason why there are plenty of people in America in debt. America is in trillions of dollars in debt, a big part of this is because of high interest rates. There are high interest rates in almost every loan type of aspect you do. Home loans, car loans, credit card interest, and even personal loans have high interest rates. A lot of people end up paying more than double when its all said and done. These are the main reasons why I do not do loans. High interest rates are a crime shame by the government towards society and this is why President Obama made it a law that companies can only charge a certain amount of interest to someone. This should be a lesson to our kids and hopefully high interest rates will not be as big of a problem as it has been in the past....
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- Spring '08
- Interest Rates