Federal Debt is out of control

[delldude]

Perhaps the point is that republicans sell them selves as fiscally conservative and it would appear by the national debt that they are not.

So you're saying you're up to your ass-cheeks in debt then by political choice?

 

[local 12 proud]

I guess tax cuts made people feel that they were keeping more of their own money...so they get five or six credit cards and max them out...then cash out the equity in their homes, pay off some of those cards...buy some more stuff to get the economy boosted nicely...and when their house quits appreciating so much, turn back to those good old credit cards.

Its real simple KC!

He who does not economize will have to agonize.
~Confucius

 

[local 12 proud]

So you're saying you're up to your ass-cheeks in debt then by political choice?

....

The Idiots can't balance a check book and its 'W's fault.

 

[KCFlyer]

....

The Idiots can't balance a check book and its 'W's fault.

This "idiot" only owes a mortgage. No debt. No car payments. This "idiot" still has a good sized chunk of equity in his home. But according to most reports, this "idiot" is rare among Americans...as most took advantage of a real estate market and turned their equity into cash. When that ran out, they turned to credit cards to fund their lifestyle. Now W cut taxes, but judging from what I am reading, it's really the idiots who leveraged all their assets that have powered the economy....not the tax cuts. But they have been following Arbustos lead...except he's got China to fund his debt. But what happens when Americans fall behind? The bank takes the house...the bankruptcy courts get more visitors. What will happen to the US if the country falls behind? What will China take....the LIncoln Memorial?

 

[delldude]

Perhaps the point is that republicans sell them selves as fiscally conservative and it would appear by the national debt that they are not.

Funny,I own my house,my cottage,my truck,my compact car,both my Harleys and my ATV.Plus I got enough in liquifiable assets that would blow most people away...
Only bills I have are monthly utilities,vehicle and homes insurance,property taxes and about $1200 on a credit card....No brag,just fact........

 

[KCFlyer]

Funny,I own my house,my cottage,my truck,my compact car,both my Harleys and my ATV.Plus I got enough in liquifiable assets that would blow most people away...
Only bills I have are monthly utilities,vehicle and homes insurance,property taxes and about $1200 on a credit card....No brag,just fact........

Why not pay the credit card off...I doubt your investments are returning nearly as much as the rate on the credit card?

 

[delldude]

Going to this month....keep a little rotating to keep a current history.

 

[local 12 proud]

This "idiot" only owes a mortgage. No debt. No car payments. This "idiot" still has a good sized chunk of equity in his home. But according to most reports, this "idiot" is rare among Americans.

If you count yourself among "idiots", works for me.

most took advantage of a real estate market and turned their equity into cash. When that ran out, they turned to credit cards to fund their lifestyle.

Re-read that above post, Im sure you will find a Key word in there somewhere.

 

[delldude]

Many fund a $100 an hour lifestyle on a $15 an hour job...its so easy with all those nice credit companies out there.

 

[local 12 proud]

Many fund a $100 an hour lifestyle on a $15 an hour job...its so easy with all those nice credit companies out there.

Seems alot of people have Champagne taste with a Beer budget syndrome.

I, like probably most everyone gets bombarded on a consistent basis with instant pre-qualified lines of credit junk mail.

I promptly take it home and introduce it to the Shredder. being financially responsible really is'nt science.

 

[KCFlyer]

Many fund a $100 an hour lifestyle on a $15 an hour job...its so easy with all those nice credit companies out there.

Which brings me back to my question...60% of Americans are in debt...living that $100 an hour lifestyle. That money goes into the economy. Is it those debt ridden folks driving the economy, or Bush's tax cuts?

 

[delldude]

Seems alot of people have Champagne taste with a Beer budget syndrome.

I, like probably most everyone gets bombarded on a consistent basis with instant pre-qualified lines of credit junk mail.

I promptly take it home and introduce it to the Shredder. being financially responsible really is'nt science.

Screw the shredder....if you take what they sent you,save the postage paid return envelope.....then tear up everything else and put in the postage paid envelope and send it back to them...now they have to pay postage...they don't if it gets shredded 😉

 

[local 12 proud]

Screw the shredder....if you take what they sent you,save the postage paid return envelope.....then tear up everything else and put in the postage paid envelope and send it back to them...now they have to pay postage...they don't if it gets shredded 😉

dude, you have just converted me...