Debt Reduction- Advice On Credit Card Debt Reduction, Debt Reduction Services, And Debt Reduction Plans

Consumer Puppet asked:


Starting with Obama’s initiatives, the Stimulus Bill “cost” $863 Billion”.

I place the word “cost” in quotations because the Stimulus Bill consisted of two parts: Spending ($550 Billion) and Tax Cuts ($288 Billion), which means that there was both money going out of the Treasury and money prevented from coming in, both of which make our deficits worse.

The Health Care Bill cost $940 Billion.

So, all together, the Obama initiatives (setting aside the residuals of War) equal: $1.413 Trillion in payments out of the Treasury and $288 Billion in reductions in revenues. That brings the total “cost” of Obama’s initiatives to: $1.701 Trillion.

Turning to Bush’s initiatives, the Prescription Drug Bill cost $1.2 Trillion.

The Bush tax cuts cost $2.485 Trillion, including $344 Billion in interest paid to holders of our debt, including China.

Again, setting aside the cost of war and supporting our veterans into the future (estimated at $3 Trillion, the total cost of Bush’s initiatives was: $1.544 Trillion in payments out and $2.485 Trillion in reductions in revenue. That brings the total “cost” of Bush’s initiatives to: $4.029 Trillion.

To recap, that gives us:

Obama:
Payments Out: $1.413 Trillion
Revenue Cuts: $288 Billion
Total Cost of Initiatives: $1.701 Trillion

Bush:
Payments Out: $1.544 Trillion — Greater than Obama
Revenue Cuts: $2.485 Trillion — Greater than Obama
Total Cost of Initiatives: $4.029 Trillion — Greater than Obama

Note: I have set aside the “cost” of the TARP bailout because those funds did not come straight from the Treasury and were essentially loans that are being paid back to various degrees. TARP was initiated and authorized under the Bush Administration. Originally expected to cost $356 billion, the most recent estimates of the cost is down to $89 billion, which is 42% less than the taxpayers’ cost of the Savings and loan crisis of the late 1980s.

I also set aside the auto bailout (also loans), which was about $50 billion total, parts of which were authorized across both administrations. Bush authorized bridging loans of $9.4 billion for GM and $4 billion for Chrysler; Obama authorized additional loans of $16.6 billion for General Motors and $5 billion for Chrysler.

Neither amount really changes the fact that the various initiatives of the Obama Administration are less than half those of the Bush Administration.

If you feel that I have missed something important in terms of spending, please let me know and I will add it.
Liberal Mathematics? I guess the Universe is liberal then because my math is totally accurate.. research it for yourselves… there is no room for opinion when you deal in fact
The 111th Congress was handed it’s budget from the 110th..lol!
The first year is written by the preceding body.. you guys never stop man,
you are completely full of it
How can you fix a problem if you won’t acknowledge where the problem begins?
also with our 2 and 4 year election cycle… this is all grist for the upcoming elections in 2012…
that’s why this is important…
Aegis of freedom… he has not raised it 4 trillion.. that is a flat out lie
Sources..
CBO
FEDSPENDING.COM
REALDEBT.COM
DEBTCLOCK.COM
Etcetcetc.. you people are so lazy minded.. as if attacking my source diminishes the point…
so do your own research and get back to me like I said…
YOU WON’T

Marina

Fly In the Ointment asked:


If we increased taxes on those making over 250,000 per year and set aside the revenue for debt reduction alone we would make a huge dent in our debt. A reversal of the Bush Tax cuts to the top 2% would make a real difference in our debt. Some say it would hurt small business. Well, any person who has his or her name as a small business could have a choice..incorporate as a small business or pay the higher rate…simple choices.

None of this new revenue could be used for anything but debt reduction. It would greatly help and every historical indicator points to the fact that it would not hurt the top earners, while the debt reduction would have a stimulating effect on the economy.

Most people understand that the Tea Baggers ideology of no tax increases while cutting taxes for Big business and the Wealthiest 2% is just not realistic when we have a choice in taxing at pre-Bush rates rather than cutting aid to the poor, elderly and disabled. The moral choice is pretty easy and Democrats are still controlling Senate. Will 2012 elections help guide us towards the moral path that Americans have historically always taken? Now that many people are seeing what the Tea Baggers want to cut to keep the Richest tax breaks in effect, are the 2012 elections looking better and better for Democrats?

Quinn Schwarzlose

barley Y asked:


The “corrupt bargain” refers to:
A.Nicholas Biddle’s management of the Second Bank of the United States.
B.the 1824 election of John Quincy Adams as President.
C.the Peggy Eaton affair.
D.the “American System.”
E.the formation of the Whig party.

Which of the following statements regarding transcendentalism is false?
A.The human mind directly and intuitively perceives certain fundamental truths.
B.Transcendentalists drew on the teachings of several Asian religions.
C.Transcendentalism was rooted in New England Puritanism.
D.Transcendentalism focused on the self-reliance of the individual.
E.Traditional conventions of thought were the key to understanding the world.

American education from 1820 to 1850:
A.included broad federal funding for public education.
B.responded to the need for a literate and informed public.
C.included a sharp increase in the number of technical colleges.
D.failed to include elementary education for girls.
E.remained the sole responsibility of the church.

The Specie Circular ordered:
A.removal of federal funds from the Second Bank of the United States.
B.reductions in the tariff to appease South Carolina.
C.the use of federal surplus funds to pay the national debt.
D.the federal government to accept only hard money in payment for land.
E.the reorganization of American banking.

Which statement characterizes the Second Great Awakening in the North?
A.Northern ministers favored the expansion of rational thought in religion.
B.Northern evangelists were most successful in rural areas.
C.Baptists dominated the Second Great Awakening in the North.
D.The Second Great Awakening in the North led to a social reform movement.
E.Northern evangelists organized numerous camp meetings.

Cyrus McCormick’s invention:
A.decreased the labor required to separate cotton seeds from cotton fiber.
B.enabled the quick cultivation of tough prairie soils.
C.allowed the use on interchangeable parts on iron plows.
D.decreased the amount of time and labor required for grain harvesting.
E.enabled the production of ready-to-wear clothing.

Which of the following is NOT one of the main points of John C. Calhoun’s South Carolina Exposition and Protest?
A.Protection of minority rights would preserve the Union.
B.State conventions had the authority to nullify federal laws.
C.The federal government embodied the will of the people.
D.Tariffs designed to protect industry were unconstitutional.
E.Sovereignty resided with state governments.

The American temperance movement in the first half of the nineteenth century:
A.succeeded in reducing American alcohol consumption.
B.failed to gain popularity in New England.
C.argued the compulsory prohibition laws should be repealed.
D.sought to expose criminals to order and discipline.
E.lacked the support of evangelical reformers.

Most white southerners were:
A.plantation owners.
B.slave owners.
C.”poor whites.”
D.yeoman farmers.
E.urban merchants.

Violent slave insurrections were generally:
A.feared by white southerners but were uncommon.
B.successful in coastal areas.
C.the preferred form of resistance to white slave owners.
D.organized by the Underground Railroad.
E.led by northern abolitionists traveling in the South.

The Jacksonians generally believed that:
A.government intervention in the economy was necessary.
B.reforms movements required active government participation.
C.individualism and an agrarian economy restored traditional republican virtues.
D.paper currency ensured economic stability.
E.public education secured freedom of religion.

The American Colonization Society:
A.argued that freed slaves should granted territory in the West.
B.drew wide support from the antislavery and proslavery movements.
C.established a settlement of freed slaves in West Africa.
D.published The Liberator.
E.was founded by Frederick Douglass.

Which of the following groups supported the Bank of the United States?
A.state and local banks
B.businessmen and merchants
C.Western farmers and speculators
D.states’ rights groups
E.urban workers

Which of the following is characteristic of the slave trade from 1815 to 1860?
A.The importation of African slaves increased after 1808.
B.Increased numbers of slaves decreased the value of the slave trade.
C.Interstate slave trade was outlawed in the Upper South.
D.The center of the slave trade moved south and west.
E.Slave traders were required to keep slave families united.

Francis Cabot Lowell introduced the factory system to the American:
A.rubber industry.
B.textile industry.
C.transportation industry.
D.farm equipment industry.
E.tobacco industry.

David Prowse

American Woman asked:


http://www.house.gov/ryan/roadmap/roadmap.htm

Jonas Nakata

smart guy asked:


I was about to default on my mortgage and all my credit cards were maxed out and delinquent. I was drowning in debt, when I saw the Great TV Evangelist Peter Popoff advise me that if I send him some money, all my debts would be erased. I found a lender who would give me a second mortgage for $100,000. I sent all the money to Rev. Popoff cause he IS a man of the LORD. I haven’t seen any reduction of my debts at all, and I’m about to lose my house and car and my wife is leaving me.
I figure that since he is Popoff is such a good Christian maybe all Christians could help him out and erase my debts.
I thank you all in advance since I know you are generous and caring people.
This request has been on R&S for 30 minutes now and no Christian has offered me any help. I always thought they were such nice people. They always told us Atheists about their love for fellow man. When they come to my door they say they want to help me. Their bible teaches them about charity to others less fortunate.
Go ahead you Christians. Send your money to your Jesus-jockeys and your silly tax-exempt churches. I”ll be OK , homeless, car-less, wife-less but knowing what Christianity is all about.

Please note: This is a parody. I am comfortable in my mortgage-free home, driving my North American made car with my lovely ex-Catholic wife.

20/20 asked:


$14 trillion debt ….$10 billion in proposed dem cuts.

==>Why did Obama ignore his own debt commission who strongly urged cutting $400 billion from the debt?
==>Why then did he ignore the GOP’s $60 billion cut proposal?
==>The dems who propose $10 billion against a $14 trillion debt….then Obama sits back with his dems in full blown spin how well they’re doing on debt reduction.

==>You do know that more debt accumulates in one month which exceeds the total $10 billion proposed by the dems. How hard are they really working?
To: Every man…..
The buck stops in the senate. Who’s in charge their? C’mon libs, thought you’re smarter than this.

Alena Bordeau

Vincent Vega asked:


going to force Austerity Measures on the United States as is happening in Greece?

We are not going to have a choice in the matter.

Lorina Antolini

g asked:


it’s odd, it seems that Republicans complain about the debt, but they seem to want any reduction in gov. spending to be returned to the taxpayer?

shouldn’t we pay off the debt first?
lol… yes, yes, yes… Republicans keep saying “make the pie bigger” but nevere seem to get around to PAYING OFF THE DEBT, NO MATTER HOW BIG THE PIE IS….

gov. renenue did increase drastically under Bush… yet NO DEBT PAID OFF?

how big does the “pie” have to be, before you PAY OFF SOME OF THE DEBT? LOL…

it seems that you’re obsessed with a bigger pie to the point of it never being “quite big enough” to pay off the debt… lol

talk about static thinking…

Jon Marmas

Belinda Carlisle asked:


As Republicans and conservatives have scrambled to rally the support of the Tea Party movement, many have failed to take notice of some of the important inconsistencies implicit in the Tea Party message. A recent New York Times/CBS poll reveals some interesting information about the movement and its fundamental “principles.”

According to this poll, 91% of Tea Partiers want a smaller government with fewer services. Despite this hostility to big government, 62% of Tea Partiers believe that Social Security, Medicare, and Medicaid are worth the cost (apparently no one bothered to tell them that Social Security and Medicare are evil Godless socialist programs). This would suggest that in order to achieve fiscal sanity the Tea Party believes that spending cuts are to be implemented elsewhere within the vast expenditures of the federal apparatus. However when one examines their beliefs on paying down the debt, the result is somewhat troubling. When asked whether they preferred deficit reduction or tax cuts, 49% of Tea Partiers said they would favor tax reduction while 42% would prefer deficit reduction.

So, tax cuts are preferred to debt reduction, and social security and Medicare are well worth the cost. This sounds less like a movement of mature fiscal hawks and more like one of whiny adolescents (who actually happen to be middle-aged) who want their current taxes lower and their future benefits higher. They are only concerned with fighting government spending that benefits other people and are desperately seeking to save their own precious benefits. They think the costs are well worth it and they have no intention of shouldering the burden themselves. These costs will be incurred by future generations whose taxes will be higher and whose benefits will be lower or nonexistent.

http://www.frumforum.com/tea-party-hypocrisy

http://www.nytimes.com/interactive/2010/04/14/us/politics/20100414-tea-party-poll-graphic.html?ref=politics

justgetitright: I do actually have a clue of what I’m talking, as a matter of fact. I get having to reduce government spending but what I found amusing about the Teabaggers is that they want to only cut programs that don’t affect them. SS and Medicare are HUGE drains on our system yet they want to keep them because they benefit from them. Palin a few weeks ago made the plea to keep military funding up. Huh? The military isn’t a part of the government now?

Marisa Ary

Clayton Bigsby asked:


Enacted the 1993 Deficit Reduction Plan without a Single Republican Vote. Prior to 1993, the debate over fiscal policy often revolved around a false choice between public investment and deficit reduction. The 1993 deficit reduction plan showed that deficit and debt reductions could be accomplished in a progressive way by slashing the deficit in half and making important investments in our future, including education, health care, and science and technology research. The plan included more than $500 billion in deficit reduction. It also cut taxes for 15 million of the hardest-pressed Americans by expanding the Earned Income Tax Credit; created the Direct Student Loan Program; created the first nine Empowerment Zones and first 95 Enterprise Communities; and passed tax cuts for small businesses and research and development.
Negotiated the Balanced Budget Agreement of 1997. In his 1997 State of the Union address, President Clinton announced his plan to balance the budget for the first time in 27 years. Later that year, he signed the Balanced Budget Act of 1997, a major bipartisan agreement to eliminate the national budget deficit, create the conditions for economic growth, and invest in the education and health of our people. It provided middle-class tax relief with a $500 per child tax credit and the Hope Scholarship and Lifetime Learning tax credits for college. It also created the Children’s Health Insurance Program to serve up to 5 million children and made landmark investments in education initiatives including educational technology, charter schools, Head Start, and Pell Grants. Finally, it added 20 more Empowerment Zones and 20 more rural Enterprise Communities, included the President’s plan to revitalize the District of Columbia, and continued welfare reform though $3 billion in new resources to move welfare recipients to private-sector jobs.
Dedicated the Surplus to Save Social Security and Reduce the National Debt. In his 1998 and 1999 State of the Union addresses, President Clinton called on the nation to save the surplus until the solvency of Social Security is assured. He also repeatedly vetoed large Republican tax cut bills that would have jeopardized our nation’s fiscal discipline. The President’s actions led to a bipartisan consensus on saving the surplus and paying down the debt.

http://clinton5.nara.gov/WH/Accomplishments/eightyears-03.html

Ashley, you obviously read nothing and just replied. Not surprising.

Felipa Poehlman