bush's tax money
so it seems that bush has implemented a tax relief plan that will hand out $168 billion to "jump-start" the economy. bush is hoping that people will turn around and purchase something with that $300-600 that the government is doling out.
now, i failed economics, as did our president (probably), but who came up with this? our economy sucks because our government/banks were stupid and have already given out money that people shouldn't have had in the first place. now we're giving them more? so we can buy more "stuff?" uh, hello? can someone teach this man about debt relief? these people who have gotten subprime mortgages BETTER FUCKING NOT run out any buy a playstation 3 or put a downpayment on a new car. they should FUCKING PAY THEIR BILLS WITH IT.
according to the Fed's G19 release (Jan 2006), the total American credit card debt is roughly $800 billion. and our debt, as a country, is $9.25 trillion dollars. now, i'm no mathematician, but that's a hell of a lot of money. here's my thought:
Bush, keep that money. pay off some of our debts as a country. that might help boost our economy better than handing out pennies in an attempt at putting a very tiny band-aid on a very big, open, running sore.
i don't know how the leader of the free world can't see the big picture. i equate our worldly financial situation to that of a stockbroker and a bum. yes, it appears that we have a lot of money, we have nice houses, we're well fed, well clothed, we've got tons of gadgets to keep us busy. but we're mortgaged to the gills. we don't actually OWN anything... the banks own them.
i don't own my car, some bank in New York does. and i don't even know what Citibank owns of mine... i've been paying it off for about 5 years now. so that computer i bought for $2000 in 2004 is now worth virtually nothing, but to ME it's worth about $4000 in interest.
the thing about america is that we're not a very economically savvy country. a lot of people don't know this credit card stuff. a lot of people don't understand adjustable rate mortgages. they don't understand tax hikes and liens and how foreclosure works. once people buy a house, the one major purchase people have been saving their money and their credit for, they let everything go downhill. they run up the credit cards. they start living beyond their means, never thinking that down the road, they might need to refinance, or have unexpected medical bills or home repairs. and when that happens and they've been living well beyond their means, they are truly fucked.
and that's what bush is doing to our country. he is making the US live well beyond its means. and that sets a horrible example for those people who have the opportunity to live free of debt. it seems we have set a new american dream: who cares if you can't afford it? buy it on credit!
so that stockbroker who looks like he has everything really owns nothing. and the bum... he may only have $2 in change in a cup and the clothes on his back, but he owns those free and clear. and he probably has no debt (anymore, anyway). so who's the bum now?
now, i failed economics, as did our president (probably), but who came up with this? our economy sucks because our government/banks were stupid and have already given out money that people shouldn't have had in the first place. now we're giving them more? so we can buy more "stuff?" uh, hello? can someone teach this man about debt relief? these people who have gotten subprime mortgages BETTER FUCKING NOT run out any buy a playstation 3 or put a downpayment on a new car. they should FUCKING PAY THEIR BILLS WITH IT.
according to the Fed's G19 release (Jan 2006), the total American credit card debt is roughly $800 billion. and our debt, as a country, is $9.25 trillion dollars. now, i'm no mathematician, but that's a hell of a lot of money. here's my thought:
Bush, keep that money. pay off some of our debts as a country. that might help boost our economy better than handing out pennies in an attempt at putting a very tiny band-aid on a very big, open, running sore.
i don't know how the leader of the free world can't see the big picture. i equate our worldly financial situation to that of a stockbroker and a bum. yes, it appears that we have a lot of money, we have nice houses, we're well fed, well clothed, we've got tons of gadgets to keep us busy. but we're mortgaged to the gills. we don't actually OWN anything... the banks own them.
i don't own my car, some bank in New York does. and i don't even know what Citibank owns of mine... i've been paying it off for about 5 years now. so that computer i bought for $2000 in 2004 is now worth virtually nothing, but to ME it's worth about $4000 in interest.
the thing about america is that we're not a very economically savvy country. a lot of people don't know this credit card stuff. a lot of people don't understand adjustable rate mortgages. they don't understand tax hikes and liens and how foreclosure works. once people buy a house, the one major purchase people have been saving their money and their credit for, they let everything go downhill. they run up the credit cards. they start living beyond their means, never thinking that down the road, they might need to refinance, or have unexpected medical bills or home repairs. and when that happens and they've been living well beyond their means, they are truly fucked.
and that's what bush is doing to our country. he is making the US live well beyond its means. and that sets a horrible example for those people who have the opportunity to live free of debt. it seems we have set a new american dream: who cares if you can't afford it? buy it on credit!
so that stockbroker who looks like he has everything really owns nothing. and the bum... he may only have $2 in change in a cup and the clothes on his back, but he owns those free and clear. and he probably has no debt (anymore, anyway). so who's the bum now?
posted by mikraas at 10:09 PM
1 Comments:
Amen, sister.
It's getting bad out there, I can assure you. Credit is drying up, rates are increasing, and there isn't a damn decent mutual fund around. Okay, so there are plenty of healthy companies worth investing in right now, but still...
A wealthy regular at SBUX once told me, "In Bear markets, money is returned to its rightful owners." I think a lot more folks ought to be asking themselves what they rightfully own!
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