I am so sick of hearing that peoples personal budget can not be in deficit like the countries

[stevebreeze]

As if no one ever take a load to buy a house or a car. These same financial geniuses want to cut taxes and balance the budget. That's like saying gee I can't pay my mortgage I think I vacation in the Bahama's a couple of week so I feel well enough to make my payment.s

[Quantess]

1. heh! That's a funny typo

"no one ever takes a load" :rofl:

[stevebreeze]

4. tore my rotator cuff thursday, besides being a bad typist, I'm on vicidin

[Maccagirl]

2. If people's personal budgets were solvent

why the hell would we have foreclosures, bankrupties, credit card debt etc etc etc...
When Repukes say this ad nausem why doesn't ANYONE challenge them on this lie?

GRRRRR.

[TexasObserver]

3. Most people have more debt than annual income.

The GOP meme about the national debt compared to the annual GDP of the country is therefore not comparable.

A couple that makes $60,000 together might have debt three or four times that.

The debt service on our national debt is fairly low as a percentage, and with a declining dollar, we're paying back that debt with cheaper dollars than we borrowed.

The whole anti deficit harangue has no substance, because the very people who preach it the most have never produced a balanced budget when they've been in power. They've done the opposite. The national debt was created mainly by Reagan and two Bushes.

[clarence swinney]

5. $100,000 Home Mortgage

Income $33,000

three times income

Federal Debt 12,000B
National Income 12,000.

Since 2000 Revenues not keeping up with expenditures.

Tax Cuts For Rich

Clinton expenditures were 18.5% of GDP
Bush had 24.7%

Clinton revenues were 19.8% of GDP
Bush got 14.8%

It was combination of two for Bush.

Two Wars-
1700B Tax Cuts primarily for very top

Gore won. Debt would be 8000B not 12,000.
Expenditures would be 18% of GDP.
Revenue would be 20% of GDP

we would enjoy PEACE ON EARTH

We would enjoy fighting Wall Street of America our new owner.

Gore would be Action oriented. No b.s.

[stevebreeze]

6. it is worth noting that 3 times annual income is the very old rule of thumb

for the size of a mortgage.

[SmileyRose]

7. No wonder the real estate agent thought I was a nutjob.

32 years ago we bought a house EQUAL to our annual income. There's only 2 of us. 900 sq ft is more than plenty.

I'm in my 50's and my debt to income is ZERO. ---- although technically, the time between buying the groceries on my Visa and paying the bill in full would be considered debt...........