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How Times Have Changed

Written By: Walter Williams  |  Posted: Wednesday, August 29th, 2012

                Having been born in 1936 has allowed me to witness both societal progress and retrogression. High on the list of things made better in our society are the great gains in civil liberties and economic opportunities, especially for racial minorities and women. People who are now deemed poor have a level of material wealth that would have been a pipe dream to yesteryear's poor. But despite the fact that today's Americans have achieved an unprecedented level of prosperity, we have become spiritually and morally impoverished compared with our ancestors.

                Years ago, spending beyond one's means was considered a character defect. Today not only do people spend beyond their means but also there are companies that advertise on radio and TV to eliminate or reduce your credit card and mortgage debt. Students saddled with college loans have called for student loan forgiveness. Yesterday's Americans would have viewed it as morally corrupt and reprehensible to accumulate debt and then seek to avoid paying it. It's nothing less than theft. What's worse is there's little condemnation of it by the rest of us.

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