Are you scared?

Discussion in 'Free For All' started by twinimini, Oct 2, 2012.

  1. BobbyNJaime

    BobbyNJaime Regular Registered Member

    Joined:
    Aug 29, 2012
    Messages:
    243
    Likes Received:
    259
    Location:
    Near STL
    Ratings:
    +283 / 0
    But how do we get more people to realize this ship will sink if we don't change our country's spending habits? It's not just the Dems fault either. It's been a bi-partisan fiscal disaster.

    Also, what are your thoughts on the upcoming fiscal cliff "triggers" set to go off in 2013? I think we need to let them happen instead of negotiating some deal to put the problem off another 6-12 months.
     
  2. twinimini

    twinimini I can choose my own title Registered Member

    Joined:
    Jan 9, 2006
    Messages:
    1,247
    Likes Received:
    34
    Location:
    WNY
    Ratings:
    +58 / 0
    Bobby,

    I think that the first step is exactly what we are doing. Trying to get the uninformed to be informed. Both parties are equally to blame for this mess due to their incessant preaching to their own choirs. Dems want more spending and Reps want less taxes. We need the opposite from both sides.

    The fiscal cliff is something both sides don't want but neither side wants to give. You are correct that this massive tax increase coupled with automatic spending cuts could be devastating, but maybe it is what we need. I have been saying all along that we need to both increase taxes and cut spending. The market has been hit hard by the cliff but it will recover.

    Everyone seems to feel that only someone else should take the hit. It needs to be ALL of us. Maybe that will finally get some sense into the clowns that are supposed to be our leaders.

    Ed
     
  3. twinimini

    twinimini I can choose my own title Registered Member

    Joined:
    Jan 9, 2006
    Messages:
    1,247
    Likes Received:
    34
    Location:
    WNY
    Ratings:
    +58 / 0
  4. BobbyNJaime

    BobbyNJaime Regular Registered Member

    Joined:
    Aug 29, 2012
    Messages:
    243
    Likes Received:
    259
    Location:
    Near STL
    Ratings:
    +283 / 0
    I wish these articles would not just blame Obama for the deficit. When written to slam one side it makes the side being slammed just disregard the article completely, because they assume it has a right or left slant. All elected officials need to be held accountable for this problem.

    From the article..."Even if Mr. Obama were to bludgeon Republicans into giving him all of the tax-rate increases he wants, the Joint Tax Committee estimates this would yield only $82 billion a year in extra revenue." Man it would be nice to make any tax increases be tied to the same percent spending cut. But, the Left will not give up a penny on entitlements and the Right will not give up a penny on defense. WE DON"T HAVE ENOUGH PENNIES FOR EITHER ONE!!!!!!!
     
  5. BobbyNJaime

    BobbyNJaime Regular Registered Member

    Joined:
    Aug 29, 2012
    Messages:
    243
    Likes Received:
    259
    Location:
    Near STL
    Ratings:
    +283 / 0
    I've been trying to figure out the reason Americans continue to put up with this ridiculous spending/deficit, because I just don't understand. I have a theory, this winter I plan writing an article about it, even though I'm not a journalist or writer. Here is the basis of it...We have been conditioned over the past couple decades to see massive personal/consumer debt as normal. We were all told we should buy a house, we were all told we could afford it by the lenders, even if it was going to eat up nearly half of our monthly income. We were given loans up to 110% of the homes value. We were all told that if you can afford the monthly payments on a vehicle, you can afford to buy it, even if the price of the car is more than you make in a single year. We were all told you need to build your credit at a young age, so get a couple credit cards while you're in high school or college. We were all told you need to go to college and get a degree, we were told the massive college debt that goes along with the degree is ok. We were all told that this is how everyone lives in America and it's normal. Well normal in america is fat, ignorant, and broke. So why would this generation care about our national debt at all, we have been taught debt is normal and ok. Is this the main reason that Americans aren't outraged about our government's deficit?

    In the article I don't want to place blame on any one aspect of this debt philosophy, but I do believe parents have failed in teaching their children about personal finance. That coupled with the constant bombardments from everywhere to borrow money to fulfill our satisfaction now opposed to saving for anything. I understand it boils down to personal responsibility in matters of money, but I don't believe our young adults are given the proper tools in personal finance. I wish Dave Ramsey's high school course was implemented in every high school in America. It truly would change our country.

    Maybe to change this country's direction we need to change the people's beliefs about debt, and start teaching them about the negatives that come along with debt.

    Everyone's input would be appreciated, maybe it will be a book and not an article.
     
  6. slore19

    slore19 Regular Registered Member

    Joined:
    Mar 22, 2012
    Messages:
    249
    Likes Received:
    1
    Ratings:
    +1 / 0
    I agree. I went in the military, and once in you can borrow from USA Discounters to buy many things, to include electronics and rims for you vehicle. The interest rates are ridiculous, but because they had some type of agreement with the military, it was the thing to do. So many of the soldiers I was stationed with bought all types of shit they couldn't afford, just because. Also there are MANY car dealerships posted right outside military bases that prey on the young minded military personnel. They will give you whatever you want, and because most don't understand finance, they get an interest rate that's silly. But they also get allotments that automatically debit your pay before you even get it, to ensure they get paid back. Then the military exchanges (NEX, AAFES) give you a STAR card, and allow you to run it up. Again the interest rates are high. In the end, you have a soldier that has screwed up his credit rating and will spend many years trying to correct it. I guess that's how college loans are, but since I didn't go to college, I can't comment on it.

    Fast forward 15 years, I had bought a house because 'that's what you're supposed to do'. I wanted to do upgrades. I decided instead of getting loans, I would get a second job. So I then had 2 Full-Time jobs and paid for everything in cash. I've learned my lesson and only charge stuff that I can pay off before the interest accrues.

    NOTE - Not everyone figures this shit out.

    In summation, just because it's available, doesn't mean you should take advantage of it. Blame falls on the consumer IMHO. And that STARTS with being educated. But if you have generations of fucked up people around you, it's hard to break the trend. NOT IMPOSSIBLE, but hard.

    *off the soap box

     
  7. twinimini

    twinimini I can choose my own title Registered Member

    Joined:
    Jan 9, 2006
    Messages:
    1,247
    Likes Received:
    34
    Location:
    WNY
    Ratings:
    +58 / 0
    Bobby and Slore I definitely agree with your assessment of easy credit being part of the problem. It is what has been used to generate much of the growth of the American economy for years and years.

    I do, however, think there is one other major factor in the problems we face today. We have reached a point in the US that no one is accountable for their actions. If someone over extended on their credit cards, then they can just file bankruptcy and it all goes away. Make poor health choices and the government will step in to bail you out. Drink too much and have an accident? No problem, just sue the bartender and the bar you got drunk at.

    People don't realize the hard truths to the debt crisis because they think that government is just like the general population. Just wipe the slate clean and it will all go away. We can't just do that here. People don't want to face the truths about what havoc has been placed on this country over the last 20 years with two very bad presidents in a row and decades of Congresses with no ability to see beyond their own re election.

    How will the powers that be in Washington handle this situation? My guess is that they will handle it vary badly with a whole lot of finger pointing and a whole lot of politicking that will prove absolutely nothing and only prolong and deepen the eventual pain we must suffer.
     
  8. funcpl27

    funcpl27 Addict Registered Member

    Joined:
    Nov 13, 2010
    Messages:
    496
    Likes Received:
    491
    Location:
    Atlanta and Jacksonville
    Ratings:
    +878 / 16
    were fucked either way

    The Democrats are the party of non producers and bury their heads in the sand about foreign threats.....The Republicans are completly controlled by insane religous people who's life motto is 'reality is optional'

    i think we're fucked either way ...so we party like it's 1999
     
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice