Debt Relief & Management

Archive for the ‘How to Pay Off Debt’ Category

Obama paid off by Mortgage Company Giants during the melt down.

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We have currency and credit derivatives of over 644 trillion dollars? What are these? What does it mean? I have no idea. We have interest on our debt of over 604 billion dollars a year as of now, but it is expected to be at least 1 trillion dollars a year by 2018. Medicare fraud just this year alone is over 38 billion dollars. Our budget deficit this year to date is over 1.2 trillion dollars. Our total unfunded liability per person is $191,832, and that is for every man woman and child. I’m not sure if that includes illegal aliens or not, all I know is that I haven’t got it, and neither does our government.

The democrats and republicans have dug us into a hole that we will never escape from. If you get to ask your representative something at a town hall meeting, then ask them this. Ask them under what scenario do we pay this debt off? Ask them just how will this magically happen. Will they somehow obtain the political courage to do something that they have for all of these years not have the courage to do?

Have them explain to you just what their plan is. You might want to tell them that using IRS data from the year 2006, if they were to collect 100% of all the income from every individual earning over $500,000 a year, then that would only amount to 1.3 trillion dollars. There is not enough money out there to pay for all of this stuff unless they massively tax us regular folks to death.

Which I believe is their plan, to tax us all to death. Well maybe not to death, but until they control everything that we do. And if they do that, then in my opinion, you will be better of dead. Like they say, better dead than red.

So by now you are probably wondering how do we fix this problem. What is the solution? I would say that this spending problem will never be solved until the politicians fear being thrown out of office for bringing home the bacon. So what I am saying is that it is up to us. Next time your representative brags on his newsletter about how he got money for this local project, or for that local project, send them a letter saying that we are broke, that we have no money, that we are hocking our grandchildren up to their eye balls and that you are not going to put up with it any longer. Tell them that you are going to vote against them, and that the reason is that they are bringing home the bacon, the bacon that we don’t have, the bacon that we are borrowing from China.

Until this happens, until we the people change, there will be no change, and we will just keep sinking further and further into debt until the entire system fails. What this failure will look like, and how exactly it will affect us, I have no idea, but I believe that within our lifetime we will find out. Things are happening fast.
jbranstetter04

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Is Bill Clinton withholding his endorsement and sulking until Barack Obama repays Hillary Clinton’s campaign debt?
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Though Hillary Rodham Clinton racked up more than $30 million in debt during her Democratic primary campaign, she could emerge from her loss with a bundle of campaign cash to either play kingmaker or mount another campaign of her own.

At her disposal are a handful of accounting maneuvers — some never before tried in presidential politics — that would render her political debt practically insignificant, while at the same time freeing up $24 million in currently off-limits cash, according to interviews with her lawyer and outside campaign finance experts.

Enhancing her flexibility is that all but $1 million of her $9.5 million in unpaid bills at the end of April was owed to allies and political firms unlikely to cause her legal or political headaches by demanding prompt payment.

In fact, their umed — but unspoken — cooperation is a key part of the New York senator’s most likely path to robust campaign finances.

That financial path would go something like this: Reclassify as a contribution most of the $11.4 million or more she loaned her campaign, which would be a personal financial hit because she wouldn’t be able to recoup much of it. Ask her donors to redirect $23.7 million they gave for her presidential general election campaign to her Senate campaign committee.

Meanwhile, try to raise some fast cash — possibly with istance from her vanquisher, presumptive Democratic nominee Barack Obama — to pay off vendors who might sue her presidential campaign, leaving “friendly” debt to be paid down gradually as she raises money from her Senate perch.

A riskier route would be to ask her general election donors to redirect — or “redesignate,” in campaign finance parlance — their general election contributions to Obama’s presidential campaign as part of a deal under which the Illinois senator would ask his donors to give to Clinton to help her pay down her debt.

The most aggressive approach would be to redesignate the general election contributions to her Senate committee, transfer her debt to the same account, and then use the general election contributions to pay off the debt.

There’s a budding debate in the campaign finance bar about the legality of such of a maneuver. Some contend it would amount to illegally “laundering” general election contributions to pay off primary election bills. But others ert a 30-year-old Federal Election Commission decision regarding “surplus” campaign cash allows flexibility in the brave new world of privately financed presidential campaigns.
http://www.politico.com/news/stories/0608/11020.html

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Special Economic update Aug 21

VisionVictory

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