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

T asked:


Of course, everyone is talking about the U.S. national debt. Even though I’m a left-wing activist, Democrats and Republicans are the both to blame for this current situation. So, I want everyone opinion. Which side has the most responsible and best debt reduction plan?

Clint Mcgrain

1 eye dog asked:


When the national debt is increased and
The debt reduction of 1.6 trillion dollars goes into effect
I kind of figure 10,000 jobs will be out the Governments door to unemployment checks more debt added

Valene Cabanela

. asked:


We are currently accumulating $3 million of new DEBT every minute. If you work, from the moment you set foot in your office to when you leave, the country will have accumulated $1.4 BILLION in new debt. There cannot be enough money generated in this country under current confiscatory regulatory conditions to pay for this level of spending.

The numbers currently being discussed – $1 trillion over 10 years – are NOTHING. A drop of water in the ocean. A grain of sand in the desert.

Buckle up, America.

Shasta Hutnak

Jamus, AM Cookie Fundie asked:


I’ve heard no talks of cutting back on the massive amounts of money we send out of the country… the middle east, asia, africa… everywhere really… It doesnt seem to make sense that we send them money AND jobs. Has there been any talks in that regards? Maybe talks in regard to giving companies incentives to keep jobs here in the US? Not trying to rant but in my household when we are really broke we dont give our money away to the neighbors and allow our children to starve so… Especially if those neighbors kinda **** us… Afghanistan pakistan china etc… most of these countries have at one time or another worked against our interest but we just throw money at them…
I dont understand…

Renee

newdad022000 asked:


Whatever plan is used for this debt reduction,will Social Security end or when they say cuts they mean something else?Will ppl get their benefits or not?

Loretta Lones

jimmymae2000 asked:


Obama calls for stimulus and debt reduction -

Irvin Sins

Shutter_Label asked:


What’s the deal here? Here is a article about the GOP walkout

Yesterday House Majority Leader Eric Cantor (R-VA) and Sen. Jon Kyl (R-AZ) may well have doomed negotiations to raise the nation’s debt limit when they walked out over a dispute with Democrats about raising revenues. Their theatrics bring the country closer to the brink of financial collapse, and observers have described the move as a “tamper tantrum” and “political grandstanding.” Today, more details emerged about exactly what Republicans are willing to threaten the global economy over to defend.

Rep. Chris Van Hollen (D-MD), a member of the bipartisan debt discussion group led by Vice President Joe Biden, said Republicans chose to “protect taxpayer subsidies for big oil companies, tax breaks for corporate jets, and tax breaks for millionaires”:

Democrats want to close tax loopholes that benefit oil companies, and eliminate a tax preference that gives corporate aircraft a friendlier depreciation schedule than commercial aircraft. Additionally, Van Hollen said, Democrats were proposing to phase out tax deductions and certain credits for people making more than $500,000 a year. These would be paired with a reduction in the tax burden on lower earners, by eliminating existing limitations on their deductions. [...]

“The message Republicans sent was…unless we accept their lopsided approach…they’re prepared to tank the economy,” Van Hollen said.

Cantor had been vague about the specifics, saying only that the disagreement had been a “tax issue.” His spokesman, Brad Dayspring, described the impasse as being over “Democrats’ push to raise taxes” on “individuals, small businesses, and employers,” which TPM notes is the language Republicans often use to make their position sound more palatable than “defending tax breaks for millionaires.”

Democratic aides also said Republicans’ refusal to consider defense spending cuts to alleviate painful cuts to domestic programs was “central” to the negotiation breakdown. As Democrats have repeatedly emphasized, it’s impossible to improve the country’s debt situation without raising revenues or by slashing discretionary spending alone.

There’s also evidence that Republicans planned the walk-out weeks in advance to pressure Democrats and improve Speaker John Boehner’s (R-OH) negotiating position. In short, at no point have Republicans been negotiating in good faith or honestly trying to broker a deal. They’re more interested in “striking a Tea Party pose” and using the massive debt they created as an excuse to enact their radical political agenda.

http://thinkprogress.org/economy/2011/06/24/253721/gop-blew-up-debt-negotiations-to-protect-tax-breaks-for-people-making-500000-or-more/

Taxing Increase? Let’s no go there

Following Reagan’s 1982 Tax Increase, Economy Boomed, Unemployment Fell

In 1982, the Reagan administration implemented the first of several tax increases that it would endorse in order to reduce the deficit. (Reagan raised taxes in seven of the eight years that he was President.) Republican lawmakers and conservative economists screamed that the tax increase would slam the economy and hinder growth.

The 1982 tax increase is the largest peacetime tax increase in U.S. history. And the same thing happened around President Bill Clinton’s 1993 tax increase: dire warnings from Republicans about economic Armageddon, followed by a booming economy.

http://thinkprogress.org/economy/2011/06/24/253569/reagan-1982-flashback-economy-boomed/

Rashad Mcgillivray

Barf asked:


In my state and nationally, budget impasses are likely to turn into government shut downs. In preparation, “non essential” employees are going to get pink-slipped.

As governments drown in debt, wouldn’t this be a good place to start wielding the budget axe for permanent reductions????
Costowar – I’m sure even you know that if we eliminate the entire military we would still be well in the hole. You Libbies… Sigh…

Carter Schlotzhauer

siRyan ??? asked:


Having watched the Commons this week I witnessed several politicians and I’ve read several news reports slandering the new government for constantly referring to the debt they have had to deal with left behind by the previous government.

It’s clearly a tactic, primarily forged by the Conservatives, to deflect negative attention away from the inevitable cuts they have had to make/are going to make…but I think they are totally in the right to do this.

The previous government knew they could delay sorting out the problem, as the general election was a win win for them. They either got back in power, or lost to the Tories, leaving them to sort the mess out, and then regain power after the next election, as the country would have become frustrated by the Cons.

If David Miliband uses the deficit reduction tactics imposed by the Cons as an integral element of his campaign then I will be re-voting Conservative.

FQ; Is David Miliband, by faaaar…the only credible Labour candidate?

FQ2; Would you trust Ed, or Balls?
I see this is predominantly a US section. I hope one English person gets to my Q.

Avery Militano

J Warren asked:


President Obama’s co-chairman of the debt & deficit commission once said “We can’t grow our way out of the deficit.”
The full context of this former Clinton Chief of the White House Staff was on record at the times as saying, “We can’t grow our way out of this. 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 have got to cut spending or increase revenues or do a combination of that.”
That was a decade ago. Today the enormous debt problem is double and now the solution is to fight the reduction of taxes which create jobs and increase none discretionary spending even more? Isn’t Bowles a zeitgeist or if not, what are they smoking up there on the Hill?

Suzanna Dadson