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The Busted Halo Show with Father Dave Dwyer
The Busted Halo® Show with Father Dave Dwyer
The Busted Halo® Show with Father Dave Dwyer airs Monday through Friday, from 7:00pm to 10:00pm Eastern time on Sirius XM Satellite Radio channel 129. Give us a call: 1-888-3-CATHOLIC. Go to www.siriusxm.com for subscription information. Don’t forget — Sirius XM subscribers can also listen to The Busted Halo Show On Demand.

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September 5th, 2013
Fatherly Advice: Is Being in Debt a Sin?

Father Dave dispenses some Fatherly Advice for someone (a listener in Thailand!) who is troubled by the notion that he mifght be in a state of sun because of his debt. You may be surprised by the discussion.

The Busted Halo Show with Father Dave Dwyer is on SiriusXM Satellite Radio, Channel 129, Monday through Thursday, 7:00pm to 10:00pm and Fridays from 2:00pm to 5:00pm Eastern. Give us a call with your questions and comments: 1-888-3-CATHOLIC, or at bustedhalo@thecatholicchannel.org. Go to www.siriusxm.com to get subscription information.

Please note that the editorial staff reserves the right to not post comments it deems to be inappropriate and/or malicious in nature, as well as edit comments for length, clarity and fairness.
  • Stephen Robichaud

    I wish that I had listened live to this segment, but – alas – I did not. I would have called. Busted Halo Crew – you’re busted for not having you info correct. According to the US Federal Reserve total student loan debt in the USA in 2012 was … $902 Billion. (Other estimates put it higher – call it a TRILLION – or about 10% of all US dollars that circulate.) According to the US Federal Reserve the total credit card debt in the USA in 2012 was … $793 Billion. (Some estimates are higher.) Which one do you think is the bigger problem? According to http://www.asa.org the average student loan balance in 2012 was about $24K, while the average household credit card balance was about $16K. These statistics are coincidental with the reality that in the US economy we have have an overabundance of underemployed college graduates and not enough low-end laborers. Let’s use some simple economic principles – Socially, we have pushed a large number of unqualified students into higher education, which artificially creates the appearance of high demand for classrooms; which artificially causes the price of a higher education to rise; which places the cost of an education mostly out of reach for a majority of American students. The US Government responded to this problem by … WHAT? Making large sums of money (which the Government did not actually possess) available for students to borrow at below market interest; which causes the cost of tuition to rise more.

    As Catholics we know that borrowing money can be sinful, but the act itself is not inherently sinful. But just like sin, debt makes you a slave. Doesn’t refraining from debt at the beginning of adult life sound like a good idea? The people in charge don’t want to talk about this, but there is now about 3 times as much debt in the world as there is money. Folks, there has never been a more critical time in human history to make sure you are debt free; or you can just live as a slave.

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