CNN Almighty Debt Restates the Problem, but offers few solutions

Last night I watched the CNN Special Almighty Debt. This is the latest of their Black in America series, but what was immediately apparent is debt is not a racial issue it is an economic issue. It is an issue that crosses the racial divide. One of the couple’s profiled in the piece had not paid their mortgage in 26 months and they were attempting to renegotiate the terms of their mortgage.  Their mortgage payment was $4000 per month. They had been a two income household and she lost her job, and that is when the house of cards fell apart. They had all the trappings of wealth, but nothing to back up the façade. They talked of faith and belief in God, but it was as if God was their Genie and he was going to make everything alright. I was impressed with Pastor DeForest Soaries whose church was profiled in the special. He is committed to teaching his congregants debt reduction principles. It was also interesting to see that the couple with the mortgage issues had not attended the debt reduction program, but she promised to attend once she got through this situation. The irony is maybe if they had attended they might not have gotten in so deep. The takeaway from the special is that times are hard, jobs are hard to find, it is hard to finance a college education and lastly blacks are hardly the only ones in this situation.

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Comments

  • gaj1206  On October 25, 2010 at 3:42 am

    Agreed, em. I saw about 10 minutes of this special and stopped watching because it was just too depressing. I think CNN should change the title of this series to: “Stating the Obvious about Blacks in America and Depressing Them at the Same Time”. Every time I see a commercial for these specials, I just get depressed. Must the tone be so somber??

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