Why should it be your highest priority? As long as you're not in over your head and are paying it off on schedule, all you lose is a little future money to interest payments. If what you get by not paying it off faster is sufficiently valuable to you, it might very well be a good bargain.
I mean, do you really think that as soon as you buy a house (which pretty much anyone not absurdly rich — and many who are — will take on debt to do), you must immediately neglect your family and pursue money at all costs? That hardly seems like a tenable position. People who have grave problems with debt have those problems not because debt is inherently a grave problem, but because they took on debt they couldn't handle.
Your absolutely correct that we all have different perceptions of "extravagance"
I think a vacation to hawaii from portland for a family of four while still in debt is clearly extravagant, and unaffordable. But's thats just my opinion, and I dont expect you, or anyone else, to share it.
Debt shouldn't be seen as ok to have but I think that is sadly how most Americans view it now.
Depends on whether the Portland in question is in Maine or Oregon, and whether the trip was an extravagant package or little more than a cheap-deal flight and minimal accommodations. At a glance http://www.cheapflights.com/flights-to-hawaii/portland-OR/ shows a flight package of $1548 for 4. Camping, hostels, or - here's a thought - Craigslist might open some cheap options.
The problem isn't debt but debts that aren't paid back. Debt itself serves a useful purpose. As long as he's able to service his debts under the terms agreed upon, the rest of his money is his to use as he pleases. I don't think we know enough about his finances, like the cost of the trip, to be able to say that the trip was clearly unaffordable.
If someone pays their debts according to the pre-agreed schedule (e.g. meets the mortgage payment every month), there's absolutely no reason to make moral judgments on how they spend the rest of their cash.
I think you're being a bit harsh and missing something here. Creating a wonderful vacation and memories for your family is priceless. And as seems to be the case, he is paying off his debt on a schedule and is not over his head. I'm pretty happy for him.
It might not be the most logical thing to do, but it's not like it's necessarily an immoral thing to do (as "Let's rephrase your statement: 'Paying back on things you've already purchased...'" implies).
It's one thing if the money is borrowed from a friend or family member (as a charity or with extremely below market interest rates). But the 2.43 trillion dollars of debt that you cite is almost entirely with institutions which make a profit off of debt. [not bashing creditors]
It probably isn't even illogical. He makes money in a way that heavily depends on him--his morale and how much work he is willing to put in. I would not be surprised if going on a vacation actually motivated him enough to be a good deal from even a purely fiscal perspective.
Oh yeah, I can totally see that being the case as well. I almost shared a story in my last comment about a guy I knew who, though constantly struggling to stay afloat (most likely below poverty with a wife and three kids), would do his best to buy something nice for his wife (something small, but thoughtful) and sometimes rent a movie that they could all watch when he got home from work.
My dad pointed out "Your family's wellbeing includes their morale."
Either way, only Ryan (and possibly his accountant [probably his wife]) can make that call.
