Get Out Of Debt-How To Get Out Of Debt

knockturnal444 asked:


If ppl dont want to raise taxes what should we do to get out of debt.

Stop Spending wont solve it all.

And didnt we do nothing but spend for the past 8 years?

Brian Zeilinger

Big McLargehuge asked:


from within? This was Clinton’s Chief of Staff, and he’s correct, and the article should be required reading for everyone…how do liberals believe that we are gonna “tax the rich” enough to cover this enormous burden that Obama has saddled us with? (you could take away ALL their income and it wouldn’t be covered)

The answer is plain as day…CUT SPENDING, cut it drastically, and cut it NOW! How many in Congress will be willing to not get “their fix” of spending other people’s money?

excerpt…
The government’s current spending trends “will destroy the country from within,” said the co-chairmen of Obama’s national commission on debt.
Commission chairmen Erskine Bowles and Alan Simpson spoke Sunday at the annual National Governor’s Association meeting in Boston, Mass., reported the Washington Post.
Medicare, Medicaid, and Social Security programs annually consume all federal revenue, according to the chairmen. All discretionary spending funds for year-to-year budgeting and expenses are used up on the three programs, forcing the government to borrow money to cover the rest of the government’s expenses.

“The rest of the federal government, including fighting two wars, homeland security, education, art, culture, you name it, veterans, the whole rest of the discretionary budget, is being financed by China and other countries,” said Simpson.

By 2020 the United States will be spending $2 trillion on just the interest of the national debt, said Bowles, if the United States makes no changes.

“We can’t grow our way out of this,” said Bowles, reported the Washington Post. “We could have decades of double-digit growth and not grow our way out of this enormous debt problem. We can’t tax our way out. … The reality is we’ve got to do exactly what you all do every day as governors. We’ve got to cut spending or increase revenues or do some combination of that.”

http://www.theepochtimes.com/n2/content/view/39038/
Robe: Really? That’s what you come at me with? Something from damn near 30 years ago?
This country is in real trouble and you say” Well, Reagan did it so we can too.” You must be a liberal, right?

Jason

Mercer asked:


Monkey sees, monkey ask. I see on Fox them asking is the world going broke, going to speak about UK and Europe. Not sure if China is in the plus on money. I am sure they are better off than us at this point.

Is the world going broke?

If so does it matter?

How does going more in debt effect us all in different countries?

Are we broke of our own making or the making of our politicians?

Lelah Meservey

Shawn asked:


I am trying to join the Navy, and I have to get a dependancy waiver. I also have a lot of debt and am about to file for bankruptcy. Will this all keep me out of the Navy?

Ian Gotts

Brett B asked:


I am in debt about 25k and really need to get out or I am in fear of going bankrupt. What are my options, anyone know of a good free service to help consolidation or just advice?

Bruno Kovalaske

Rev. Jules Winnfield asked:


What are you preparing to give up for the effort of lowering our national debt?

Soon the bailouts and stimulus spending will be a sad footnote in our history, leaving us with a National Debt of 14 Trillion Dollars and an economy in recession.
After Obama is sent home with his tail between his legs we can get down to the business of paying off our debt. We will owe around $43,000.00 per person or about $179,000 per household.

So the best bet is to spread the bill eaqually over the households to prevent Sociaism and Redistribution of Wealth.

With can knock the debt out by each household participating in a 5% 15 year fixed rate loan.
It will cost about $1400.00 per month.
If $1400.00 is too much for you to swing, we can go for a 30 year loan for only $960.00 per month.

But if we will all buckle down, keep our noses to the old grindstone for 15 years we will be out of this mess. Of course we will have to stop all government spending during this time to accomplish this.
Thanks to the Tea Party shaking Americans out of their slumber, we can do this.

Fletcher Stentzel

Chris asked:


I’m 28, have a bachelor’s in writing, with an associate’s in accounting and currently I’m working on getting that 2nd bachelor’s in accounting. Problem is I’m one of the 10% that got laid off. I’m on month 5 of the process of trying to find a new job, but there doesn’t seem to be anything out there in either customer service (something I did for 5+ years) or entry level accounting. I haven’t networked a whole bunch however, because it seems that I can’t get in touch with anyone who could actually hire me at any company. I’m going then through staffing agencies for temp work and applying to at least 1 ad a day on sites like monster or indeed.

Now, my situation then since I seem to be unable to find any work is this:
My father died in 2007 leaving me with a little bit of money, but not enough to sit on my **** until I graduate for the 2nd time from school. I haven’t tried places that pay slightly better than minimum wage because those places would actually cause me to eat at my savings slowly. But it’s fast approaching August/September that time of the year when places like Wal-Mart are hiring for the upcoming season. With congress voting no to an unemployment extension I will most likely lose my unemployment around Christmas of this year which would still leave me with not enough money to make it till the end of college. I don’t see how the economy will get better for finding low level accounting work by Christmas and so I’m faced with a dilemma. Either take whatever I can get at some place like Wal-Mart and go slowly broke, just sit around and wait and see if the economy makes a massive rebound in the next 6-8 months, or join the military and have all my financial problems vanish, but then a whole new ball of wax comes into play.

I already know about the military and what I’ll have to expect, but I can’t hardly see how having them pay my college loans off, getting free health care through the VA, and having more money than I need month to month while I’m in is a bad thing. Except unless as I’ve heard if I got killed.

I must say that the idea of going through obstacle courses with live machine guns over your head and all the other things that come with basic training aren’t very appealing to me in that I am a bit of a scaredy cat, but with all the financial benefits that come with being in the military I think I could handle the 12 weeks or so of basic. It would be for me 4 years of my live gaining new experiences and getting my college debt out of the way instead of trying to hack it in the civilian world and probably taking 12 years to pay off my college debt.

Now I think I would be able to get in as an accountant and maybe even as an officer with my past degree, but I’m unsure of whether this would be a good idea. The only hitch I could see on my being able to get in is I tried the Air Force 3 years ago and they disqualified me on my vision. Apparently I have depth perception issues.

Antony Corry

Cecil asked:


With all the new laws, the credit card companies have doubled my payments. I have very little left at the end of the month due to this and now am starting to have to juggle payments to keep up. I just refinanced my house, when the market crashed so I have little equity to borrow against. Any suggestions?

Harland Randzin

Justin asked:


I know we are around 13 trillion dollars in debt. But, I want to know, how can we get out of it? How long will it take? Also, when we do get out of it, what will we invest into? Will it be technology, immigration, energy, education, etc. Why are we in so much debt?

Joanna

Face on Fire asked:


My In-Laws are planning to move back to the Philippines next year and walk away from their house, cars and credit card debt. However their “plan” is to live off their retirement that they will be getting from Social Security and what they acquired while working for the Post Office.

Can they get away with that? Im not a lawyer but this doesn’t sound right to me. They seem to think it wont be an issue and they checks will continue to come.

Darrell Thornbury