Posted on 02/17/2011 4:40:28 AM PST by davidosborne
You are right. If one wants to learn how fly a plane, one should seek an instructor that has at least one crash to his record.
not taking that bait my friend... I am sorry for telling you not to lecture me.. please stop making this personal it is not helpfull
You were the one that took it to 'personal'. But I would rather not go that route anymore either. Cheers.
:)
We don't have "years" to fix it. Months, maybe.
The best we can hope for is drastic action RIGHT NOW that might restore some confidence on the part of businesses and investors.
The only way we'll "fix" this, ever, is by restoring economic growth and creating some jobs.
Amen ! that means No more credit period !! operate within your means.. everyone !! including the gubmint !
Yes the good news is that whatever the Dims are saying you always know they are lying. LOL!!!
Federal Income Tax revenue is just about enough to cover interest and the bare essentials like defense. No default is necessary.
Every month the Federal gov’t keeps paying office buildings full of countless employees doing nothing that is essential, the Federal employee bubble is getting bigger.
“Also, the Treasury Department said it will auction $99 billion in 2-year, 5-year and 7-year debt next week”
Sooner or later there will be no buyers at these auctions.
That is the answer my FRiend.. right there... right now.. STOP all non-defense spending IMMEDIATELY !!
Interesting Link... not sure the relevence to this discussion.. other than the fact that Deborah is a personal friend of mine and that I supported her when she ran against Ander Crenshaw in Florida District 4... is that the reason you posted it?
There's a lot that the government can do immediately, like eliminating earmarks, farm subsidies, NPR funding, etc. but all of that is just a drop in the bucket. The big ticket items are Social Security, Health and Human Services and Defense spending. You can't just stop paying Social Security recipients or end Medicaid or defund the military in the middle of fighting a war. Changes to Social Security, like raising the retirement age, would have to be made over a long period.
You're correct about creating jobs. Unfortunately, the only way the current administration knows how to do this is to grow the government payroll by sucking more money from the private sector.
EXACTLY.. the Dave Ramsey APPROACH is the ONLY way to go... we need a NATIONAL BIG DEBT SNOWBALL NOW !!
In the short term EVERYONE’S NEEDS WILL BE TAKEN CARE OF BY THEIR NEIGHBORS AND THE LOCAL CHURCHES !
We don’t need a DIME of “funny money” to do it !
NON-DEFENSE SPENDING NEEDS TO HALT TODAY !
If has a credit card debt of $30,000 at 15% and car loan of $10,000 at 2.9% and $500 per month available to pay them down, how much would you recommend putting to each account each month?
$500 month total income? not possible.. to correctly answer that question I would need a complete list of TOTAL ASSETS and TOTAL LIABILITES and TOTAL INCOME.... likely in that situtation one would need to sell some assets to pay down that debt.. unless there is sufficient income to pay it down.. $500 is NOT enough... Dave Ramsey approach is NOT rocket science..
gut feeling.. the $10,000 car loan needs to go immediately.. sell that car and buy a cheaper car while you attack that debt.. likely the $30,000 is NOT on one card so you would need to list the debts smallest to largets and pay off the smallest one first.. attack with a vengence ! live on beans & rice until it’s done ! ... nothing new to any Dave Ramsey fan..
I said "available" for paying the debts.
$500 “available” is a snow job/shell game A REAL budget accounts for every dollar and puts EVERY DOLLAR and every asset and every liability on the table.. and is assessed as a TOTAL PACKAGE..
I would be willing to bet dollars to donuts that the FAILURE to have a REAL budget is what created the $30,000 credit card debt.. over time..
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