Reply With QuoteOriginally Posted by evince
Why do you Obama ass lickers consider the $5 trillion added during the Bush administration bad yet the almost $10 trillion added under Obama not a problem?
Banned
When Bush left office the debt was around $10 trillion of which approximately $5 trillion was added when he was President. You lefties called that horrible. When Obama left office, the debt had grown by almost $10 trillion and suddenly twice what you said was horrible wasn't a problem. Why is that?
Banned
Why do you Obama ass lickers consider the $5 trillion added during the Bush administration bad yet the almost $10 trillion added under Obama not a problem?
Truthmatters
why do you never admitt most of that went to cleaning up your war built on lies and your crashing of the entire worlds economy?
because you are a dickstrap
911 EVERY DAY
Debt is useful during a recession, doesn't make any sense to run one now though. We should increase taxes to whatever level necessary to balance the budget. Current levels are unrealistic and have political motivations, Republicans give money away through tax cuts in exchange for votes.
"Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34
Althea (07-24-2017)
Banned
Because it didn't.
That's why you're a NL.
Banned
Democrats have given away money through tax increases in exchange for votes from those that don't pay those taxes.
Verified User
There is a simple formula based upon 30%. If a business cannot sustain a 30% profit from all the goods and or services he provides he is not long for the business world.....the inverted formula should apply to the average working person's debt to income ratio....one should never be indebted by more than 30% of one's total income. Supposedly if one saves 10% (pays himself) 10 cents for every net dollar earned he should have no problem in paying off his debt in totality after a few years of saving (if and when there arose a need or requirement to be debt free).
The same formula for personal savings should apply to any business....one should save 10% of all profit and count it as a personal income.
That's why so many "small businesses" fail each year. If one looks simply at the gross income of any business you would assume that a small business making in access of 3 figures should be solvent...but such is never the case, there are so many variable costs that goes into running a successful business. Number of employees, taxes, overhead like utilities that must be used, transportation costs (shipping) etc.,
If a single owner business takes in about 120K per year...the bottom line would indicate that he/she would be better off simply working for someone else if all one can actually earn after all expenses is less than 30% of the gross.
Now take a look at how "UNCLE SAM" manages the people's wealth....as in reality Uncle Sam Earns NOTHING....every penny that is in the coffers of any government must come from THE PEOPLE the government represents. If UNCLE SAM was a business...he would have been jailed decades ago for the same practices that the management of Enron and Bernie Madoff went to prison for using.
The problem being its a most difficult thing to charge someone with "cooking the books" when the only ones allowed to audit the business are the business managers.
Why is the US 20 trillion in debt? Is it because of a lack of PROFIT (collected taxes)? Hardly. The government entities of the US take is almost 8 trillion dollars annually (a very good debt to income ratio)....yet they can only pay the interest on the accumulated DEBT? Really? What's wrong with this picture? Where is the documented money going? Its going down the proverbial shitter due to mismanagement and the cooking of the books.
CONCLUSION: The United States of America does not have a "tax problem" (as in not having enough tax collected per capita).....the United States of America has a very serious "management problem".....in the wasteful spending of the citizens wealth for the simple reason of not attempting to make the lives of American Citizens better, safe and secure but to purchase enough votes to keep the "career politicians" a place at the HOG TROUGH that is Washington DC.
Common sense would allow anyone with the least amount of critical reasoning abilities to conclude that no LAWYER (as the majority of politicians have direct ties to the US LEGAL SYSTEM) would give up a private practice with the built in potential to make hundreds of thousands in income.....to work as a supposed servant of the people at a fraction of an "honest" wage.
There must be life time "term limits" placed upon all politicians who would engage in the business of representing the people. There should be a constant turn over of NEW FACES every few years...then and only then would the natural human instinct of creed and corruption be curbed and allow the government to function as it was designed to function....in the BEST INTEREST OF THE PEOPLE...et al.,
Last edited by Ralph; 07-22-2017 at 01:37 AM.
Practically Perfect
I have the 30-year because it's what I can afford. The low interest rate appeals to me far more than the deduction, and I pay extra every month. Currently, I can only work an extra $50, but, my plan is to raise it a little each year until I am paying several hundred in curtailment. I suppose once I get to that point, I'll be able to afford a 15-year, regardless.
"It [the draft] is duty rather than slavery. I part with the author on the caviler idea that individual freedom (whatever that may be to the person) leads to nirvana, anyone older that 12 knows that is BS."
-(Midcan5)
"Allow me to masturbate my patriotism furiously and publicly at this opportunity."
-(Ib1yysguy)
"There is no 'equal opportunity' today unless the government makes it so."
-(apple0154 )
"abortion is not killing Its birth control"
-(Desh)
Practically Perfect
I take the conventional wisdom that debt is, to some extent at least, a tool. At the same time, I'm a casual fan of Dave Ramsey. If you're ever interested in seeing the conventional wisdom challenged, I recommend reading The Total Money Makeover, and locating his show on your local radio. I haven't finished it, yet, but he has advanced stuff beyond that, as much of the info in the book is pretty gee-whiz stuff.
"It [the draft] is duty rather than slavery. I part with the author on the caviler idea that individual freedom (whatever that may be to the person) leads to nirvana, anyone older that 12 knows that is BS."
-(Midcan5)
"Allow me to masturbate my patriotism furiously and publicly at this opportunity."
-(Ib1yysguy)
"There is no 'equal opportunity' today unless the government makes it so."
-(apple0154 )
"abortion is not killing Its birth control"
-(Desh)
Former Vice President
Set up bi weekly payments. It is like one extra payment a year.
Practically Perfect
That's what I'll effectively be doing once I can afford to get my curtailments up high enough each month.
"It [the draft] is duty rather than slavery. I part with the author on the caviler idea that individual freedom (whatever that may be to the person) leads to nirvana, anyone older that 12 knows that is BS."
-(Midcan5)
"Allow me to masturbate my patriotism furiously and publicly at this opportunity."
-(Ib1yysguy)
"There is no 'equal opportunity' today unless the government makes it so."
-(apple0154 )
"abortion is not killing Its birth control"
-(Desh)
Loyal to the end
no surprise Desh ran from this
Althea told me...........
First....trump never had a plan to 'get a handle' on debt. His plan has always been to quadruple the debt via unfunded spending. His tax cuts, if they ever go through, will destroy the budget...as Bush did.
If you are concerned about 'entitlements', something you erroneously claim is the leader of our debt, then perhaps the wealthiest in the nation should start contributing to Medicare/SSI/Medicaid?
There is no need for you to refi to a 15 year note. You are correct about the correlation between the interest you pay, and what you are earning (temporarily) on your investments. But, if you want to increase equity, and shorten your mortgage burden/save on interest, simply make payments toward principal when you have a few bucks.
Once in a while you get shown the light, in the strangest of places if you look at it right.
Althea told me...........
On a national level, I agree. Debt should be paid via increased revenue. There are myriad ways to do that, but those who own Congress will never allow it.
On a personal level, debt is a great thing for the economy. When used properly, it drives an economy that would stagnate if the calls for 'cash only' by the fools here were applied.
Once in a while you get shown the light, in the strangest of places if you look at it right.
Loyal to the end
What's your answer to the OP question?
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