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Published on Sep 22, 2010
America's addiction to debt, and the impact it will have on current and future generations, is the subject of a new book, "The Culture of Debt." The latest book by James V. McTevia, an expert in working with companies saddled by debt, paints the picture of a nation facing a looming and severe crisis.
McTevia is widely regarded as the foremost pioneer among the founders of what has become one of America's growth industries--turnaround management, debt restructuring, and liquidation of failed companies. He has seen the destructiveness of debt addiction in every form and from every angle.
In the book, McTevia uses his five decades of experience of working with troubled companies nationwide to examine changes in the attitudes of individuals and governments in America toward debt. He candidly describes the consequences of a national debt that tops $13 trillion and he puts forth potential, yet challenging, solutions to the national debt crisis.
A key theme in the book is what McTevia stresses should be taught in schools -- the crucial necessity of linking personal finance to the finance of commerce to the finance of important institutions to the finance of government. McTevia believes this theme should be a natural progression in the schools' teaching of fiscal literacy, something few children learn at home.
"The Culture of Debt" is available at amazon.com and through other online retailers.
Connect with McTevia on Twitter @CultureofDebt and on Facebook under "Culture of Debt."