No Chit,You DumbaZZ !

[392cobra]

Who in the hell proposed and spent all this money ,DUH.
Who ignored what has finally starting to seep into his vacant brain ? DUH

NEXT (Just Wait)...He HAS TO raise taxes to SAVE US !



Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ (Update2)
By Roger Runningen and Hans Nichols

May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”

http://bloomberg.com/apps/news?pid=2...e8w&refer=home

[cobra bill]

I sure hope he raises the taxes, put it back to 90% for that top 1% it was there greed that phuked us, let em pay since no one seems to be going to jail for any of this! it would be a small price to pay.

[SP01715]

Originally Posted by cobra bill

I sure hope he raises the taxes, put it back to 90% for that top 1% it was there greed that phuked us, let em pay since no one seems to be going to jail for any of this! it would be a small price to pay.

It was the housing debacle that caused most of our problems. I would put the blame on a lot of people, with the first being government regulations in the sub prime market. I know a lot of people that were flipping houses that are now walking away, and they are not in that top 1%. You can also add in the scum bag mortgage broakers, realtors and the people buying houses that were lying on loan docs.

[stuartb]

what loan docs. most of them filed no doc loans(thanks alot rep. Frank). Sorry not everybody should be able to own a home just because the government says so.

[Stentor]

Originally Posted by cobra bill

I sure hope he raises the taxes, put it back to 90% for that top 1% it was there greed that phuked us, let em pay since no one seems to be going to jail for any of this! it would be a small price to pay.

Classic words from a government worker...likely surfing the web on a government computer during work hours (a 3:40 pm post).

[cobra bill]

The housing debacle was just a small part of the big picture, the banks were making loans to pets for God sake, anyone and everyone was getting credit card apps, mortgages, and who knows what else weather they had the ware with all to pay it back or not, these guys should have known better, it was sheer greed that kept them going like mad men to push as many loans as was humanly possible.

[stuartb]

cobra(space) bill do you have a loan that is under 7 or 8%? If you do then you can thank the federal government. Particularly Barny Frank, but when they(government) ordered the banks to give no doc loans,and 0 down loans so that the less than fortunate could purchase a home(bad idea when they don't have the money) it opened up the same loans for everybody else. Then the consumers tried to keep up with the Jones'. Hence most of the blame falls on banking oversieght comity along with acorn who would stage paid protests(your tax dollars at work) in front of banks that would give the poor loans.

[Wes Tausend]

...

Logically, the money can't just suddenly disappear to nowhere, so it's likely not lost.
But if it is really gone, then logically and conversely, the money can suddenly re-appear out of nothing.
Then that's what we should do.

I think I could work for a federal agency. It takes a knack.

Wes

...

[Ron61]

I am not certain just how this worked but Redding has already gone through all of the money they got that was to help people make down payments on homes and is talking of another tax increase to cover some that was given to people who they don't feel will be able to make the payments on the homes they bought. Why would they loan them money to buy still way overpriced homes if they know they aren't going to be able to make the payments? It seems to me the people in this case are as dumb as the local politicians as they wouldn't settle for a home that they could afford to make the payments on. This looks like another of the repossession things coming a year or so from now.

Ron

[fsstnotch]

Originally Posted by Stentor

Classic words from a government worker...likely surfing the web on a government computer during work hours (a 3:40 pm post).

Hey represent that remark....

BTW, I pay 3.5% on my rental property! THANK YOU! haha

[Dan40]

Originally Posted by cobra bill

I sure hope he raises the taxes, put it back to 90% for that top 1% it was there greed that phuked us, let em pay since no one seems to be going to jail for any of this! it would be a small price to pay.

This statement is SO naive it is hard to believe a sentient adult could type it, let alone believe it.
Greed exists, and is sometimes abused. But without greed, there would never have been any progress by mankind. We would still be living in caves.
Possible abuses of natural greed are WHY there WERE banking laws and divisions of the banking systems. To prevent the exact situation we have today. Then politicians from BOTH sides of the aisle, in an insane desire to acquire VOTES at any cost, Repealed about ALL the banking regulations.
Did financial types take advantage of a LEGAL RIGHT TO STEAL? Well DUH!, YES. Even a brainless idiot would KNOW that would happen. Congress excepted, they are 'surprised!!'

[cobra de capell]

This statement is SO naive it is hard to believe a sentient adult could type it, let alone believe it.

I second that! Although liberals appear to be sentient beings, liberals are also persons who lack the gene that allows humans to mentally process reality.

[Stentor]

Originally Posted by fsstnotch

Hey represent that remark....

BTW, I pay 3.5% on my rental property! THANK YOU! haha

Fsstnotch,

Thanks for putting your neck on the line to protect our freedom! My post was not directed at you.

Stay safe.

[J. T. Toad]

This statement is SO naive it is hard to believe a sentient adult could type it, let alone believe it.

Third.


"likely surfing the web on a government computer"


what? could there be some irony here?.... too true.

[fsstnotch]

Originally Posted by Stentor

Fsstnotch,

Thanks for putting your neck on the line to protect our freedom! My post was not directed at you.

Stay safe.

It's all good! I was just picking!

[Bill Bess]

Dan..You nailed it!

Uncontrolled greed always leads folks to do bad things...some intended and some through plain old stupity.

Bill

[427sharpe]

Hey, here's an idea...
A business can't make money? It goes out of business.
Can't pay for a house? Don't buy a house.
Can't pay for a house you already bought? Lose the house.
Help somebody lie to do any of the above..GO TO JAIL!
And Obama talking about the long term debt being unsustainable...while writing a 3.5 TRILLION dollar budget that borrows 49 cents for every dollar spent? Oh, but he IS going to trim off a whopping $17 billion...wait, that's
.0485714 of a SINGLE PERCENT! WAY TO GO BIG O!