High school seniors need to be taught financial responsibility. Financial responsibility should not only be taught in schools, but also at home. As we have discussed in previous chapters, part of the reason we are in the mess we are in is due to excessive spending not only by individuals, but also by the government. Arthur MacEwan states: “US consumers rely on credit and cannot look beyond the present” (2012, p. 6). As a consumer, high school seniors need to be taught how to look beyond what they see. How will they pay off the credit they took out if our country hits another recession and they are left out of work? Businesses and families borrow money to start their own business and to run their household and this amount has increased dramatically over the years. last two decades. According to John Miller, “in 1990 household debt was 60.2% which increased in 2010 to 92.5% and total corporate debt in 1980 was 53% while in 2010 it jumped to 74.3%” (2011, p. 36) In other words, our budgets are no more balanced than our governments without borrowing. Our government has been borrowing and investing money into our economy to try to give our economy a push in the right direction. Miller states, “In 2008, the U.S. government spent $253.8 billion on spending that will increase the economy's productivity and help provide tax revenue to service our national debt” (2011, p. 37). taught the appropriate times to spend money and when they should invest to improve their future. MacEwan points out that there are three areas that should be addressed if we are to manage our financial crisis. Senior high school students should...... middle of paper ......rld Economics (16th ed., p. 43, 46). Boston, MA: Bureau of Economic Affairs, Inc.MacEwan, A. (2012). Inequality, power and ideology. In J. Cypher, A. Reuss & C. Sturr (Eds.), Current economic issues: Dollars & sense Real World Economics (16th ed., p. 6, 8). Boston, MA: Economic Affairs Bureau, Inc. Miller, J. (2011). The government “lives within its means.” In J. Cypher, A. Reuss & C. Sturr (eds.), Current economic issue: Dollars & sense Real World Economics (16th ed., pp. 36-37). Boston, MA: Economic Affairs Bureau, Inc. Stanford, J. (2008). Economy for All: A Brief Guide to the Economics of Capitalism. (p. 235). London: Pluto Press.Wolfson, M. (n.d.). The ideological attack on job creation. In J. Cypher, A. Reuss & C. Sturr (eds.), Current economic issue: Dollars & sense Real World Economics (16th ed., pp. 38-40). Boston, MA: Office of Economic Affairs, Inc.