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Old 03-01-2009, 12:31 PM
 
504 posts, read 903,333 times
Reputation: 155

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NEW YORK -- More U.S. consumers are filing for personal bankruptcy or relying on credit cards as the recession deepens and unemployment rises, a top credit bureau executive told Reuters on Thursday.

Moneynews - Mortgage Delinquencies Jump 50 Percent (http://moneynews.newsmax.com/headlines/mortgage_delinquency/2009/02/27/186362.html - broken link)
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Old 03-01-2009, 12:34 PM
 
194 posts, read 329,970 times
Reputation: 53
Quick, raise tax some more!
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Old 03-01-2009, 12:40 PM
 
Location: Midwest
38,496 posts, read 25,857,105 times
Reputation: 10791
I saw this coming at least 4 years ago. The middle class has been squeezed to death.

BTW HereinDenver, when the feds cut taxes for the wealthy, they also cut allocation of funds to states. The states then must cut spending or raise their taxes. Locally, less funding comes in for education, police, etc... so property taxes must be increased. The tax cuts for the wealthy are picked up by the middle class somehow. It is just a matter of what level of the taxation tier!
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Old 03-01-2009, 12:42 PM
 
Location: Earth
24,620 posts, read 28,310,711 times
Reputation: 11416
Sell your houses if you can and don't buy more garbage.

Living within your means is a novel approach to life, some people should give it a try.
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Old 03-01-2009, 12:44 PM
 
Location: Chicago Suburbs
3,199 posts, read 4,321,795 times
Reputation: 1176
Quote:
Originally Posted by HereinDenver View Post
Quick, raise tax some more!
and whatever you do, don't cut back on spending,or spend withinin a budget, or even pretend to have a budget, or pay your personal taxes, or encourage manufacturing jobs to stay here...
Our government, leading by example.
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Old 03-01-2009, 12:46 PM
 
2,095 posts, read 2,584,402 times
Reputation: 1268
Well, states would save millions (possibly billions) if they stopped giving illegal aliens free healthcare, education, food, housing, and clothes. But common sense is nonexistent in all American politicians nowadays.
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Old 03-01-2009, 12:47 PM
 
504 posts, read 903,333 times
Reputation: 155
Quote:
Originally Posted by chielgirl View Post
Sell your houses if you can and don't buy more garbage.


Living within your means is a novel approach to life, some people should give it a try.
I Own my Home, No Mortgage.
So True
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Old 03-01-2009, 12:49 PM
 
Location: Midwest
38,496 posts, read 25,857,105 times
Reputation: 10791
Quote:
Originally Posted by allydriver View Post
and whatever you do, don't cut back on spending,or spend withinin a budget, or even pretend to have a budget, or pay your personal taxes, or encourage manufacturing jobs to stay here...
Our government, leading by example.
I agree! Bush was an example of how to drive our country into the ground!

His example will be learned from as what NOT TO DO for quite some time to come. The good news is we have learned from Bush's mistakes.
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Old 03-01-2009, 12:54 PM
 
Location: Chicago Suburbs
3,199 posts, read 4,321,795 times
Reputation: 1176
Quote:
Originally Posted by jojajn View Post
The good news is we have learned from Bush's mistakes.
So wrong...
Obama has already managed to make Bush look like a cheap skate with only days in office.
Nice try and for your efforts I award you the "big fat hairy lie of the day" honors
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Old 03-01-2009, 12:57 PM
 
Location: Earth
24,620 posts, read 28,310,711 times
Reputation: 11416
Quote:
Originally Posted by truthseeker2012 View Post
I Own my Home, No Mortgage.
So True
So do I, two houses actually.
Why did/do people buy houses that they can't comfortably afford?
I can afford a lot of house, but I'm not comfortable with what the banks tell me. I'd rather put that money aside for a rainy day or retirement.

I have enough and don't need to keep up with the Jones' or anyone else.
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