Being just is cancelling debt and turning it into charity/gift?
Why does America go along with Marxists like this British moron? Is the answer because we are as Marxist as the Euro-"peons"?
Any accountant or CPAs out there? I say the United States should be required to show the debt cancellation as an expense in FY 2006 budget.
If we convert a loan (Accounts Receivable--an asset) to charity by cancelling that debt, should it not show up as an expense?
Anybody out there on this forum who has worked at the OMB or in a capacity to know if our Budget never shows the true accounting for loans and forgiven debt? I bet debt cancellation is never shown as an expense in the year it is canceled.
This whole global welfare crap and debt cancellation is anti-American. American officials, the President and his advisors are America's worst enemies. America is last on the totem pole. "America First"? What a joke! We are giving away our treasury and can't even afford our own military programs (e.g. cutting back on the F-22).
Instead of chasing the next RAThergate false memo, FR members should be hounding the U.S. officials and President Bush to come clean and properly show the outrageous sums of taxpayer money we trash on third world black holes and reflect it properly on the U.S. budget. Our deficit is far worse than is being shown. Can anybody dispute this?
If American taxpayers don't foot the bill, then Dubya's corporate cronies can't sell anything to these corrupt, undeveloped nations.
I always wonder if these loans have had their principal paid or mostly paid off...and they are just writing off interest in exchange for trade gains.
Hahahaha!....Yeah, cancelling the debt will sure put $$$$ in the pockets of "the poor" alright. BWAHAHAHA!!!
FMCDH(BITS)
I just discovered that the bank that holds my mortgage has assets in the billions, compared to my paltry thousands.
Obviously, they should immediately forgive my debt.
Who's with me?
Your fears are the tip of the iceberg.
Ok...let's "forgive" their debt. Then I never want t hear another damned thing about helping the Third world.
Wouldn't it be better for America if we just forgave the mortgage debt of every American facing bankruptcy or foreclosure?
I'm talking about mortgages.
Yes, it is true. Nearly all of us homeowners are led to believe that we actually own our homes but in reality, it is the evil mortgage companies who actually hold the paper on them and they extract from us, on a monthly basis, large payments. Payments that prevent us from doing other things with our money. Like going on a Hawaiian vacation or buying a bigger house!
The big, rich, evil mortgage companies have enslaved us!
Well it is high time that the rich mortgage companies hear the voices of the downtrodden homeowners of America! We need to have our mortgages "forgiven" and we need the mortgage companies to forward us the titles to our homes forthwith and in haste! It's time for us homeowners to RISE UP and demand freedom from our mortgages! Power to the people! Power to the homeowners of America! This injustice can no longer be perpetrated upon us!
We could drop 100 billion down that rathole every few days and no one would know the difference.