Mike_R asked:
I am in debt for about $50,000. And now thanks to the government finding it very difficult to get work. My question is this, those debt relief programs that I have been receiving in the mail if I use those and they reduce my debt and I pay off the debt will my credit rating still be in the gutter whether I pay off my debts or not?
Joe asked:
I would like to know more about these companies. I am NOT interested in their services. I’d like some questions answered for personal reasons, and I can’t seem to get any answers.
1. How is their business legal if they’re “scamming” so many people?
2. Are they opening under another name (possibly the same name) in Cali?
3. Are the Russians owners and operators involved in organized crime such
as Russian Mafia?
Libertarian_Freedo asked:
* Require the Financial Sector to Pay Back For the Extraordinary Benefits Received: Many of the largest financial firms contributed to the financial crisis through the risks they took, and all of the largest firms benefitted enormously from the extraordinary actions taken to stabilize the financial system. It is our responsibility to ensure that the taxpayer dollars that supported these actions are reimbursed by the financial sector so that the deficit is not increased.
* Responsibility Fee Would Remain in Place for 10 Years or Longer if Necessary to Fully Pay Back TARP: The fee – which would go into effect on June 30, 2010 – would last at least 10 years. If the costs have not been recouped after 10 years, the fee would remain in place until they are paid back in full. In addition, the Treasury Department would be asked to report after five years on the effectiveness of the fee as well as its progress in repaying projected TARP losses.
* Raise Up to $117 Billion to Repay Projected Cost of TARP: As a result of prudent management and the stabilization of the financial system, the expected cost of the TARP program has dropped dramatically. While the Administration projected a cost of $341 billion as recently as August, it now estimates, under very conservative assumptions, that the cost will be $117 billion—reflecting the $224 billion reduction in the expected cost to the deficit. The proposed fee is expected to raise $117 billion over about 12 years, and $90 billion over the next 10 years.
* President Obama is Fulfilling His Commitment to Provide a Plan for Taxpayer Repayment Three Years Earlier Than Required: The EESA statute that created the TARP requires that by 2013 the President put forward a plan “that recoups from the financial industry an amount equal to the shortfall in order to ensure that the Troubled Asset Relief Program does not add to the deficit or national debt.” The President has no intention of waiting that long. Instead, the President is fulfilling three years early his commitment to put forward a proposal that would – at a minimum – ensure that taxpayers are fully repaid for the support they provided.
* Apply to the Largest and Most Highly Levered Firms: The fee the President is proposing would be levied on the debts of financial firms with more than $50 billion in consolidated assets, providing a deterrent against excessive leverage for the largest financial firms. By levying a fee on the liabilities of the largest firms – excluding FDIC-assessed deposits and insurance policy reserves, as appropriate – the Financial Crisis Responsibility Fee will place its heaviest burden on the largest firms that have taken on the most debt. Over sixty percent of revenues will most likely be paid by the 10 largest financial institutions.
http://www.whitehouse.gov/the-press-office/president-obama-proposes-financial-crisis-responsibility-fee-recoup-every-last-penn
Mike asked:
Currently Defense Department is paying this bill from Operations and Maintenance funds. That is money that will not go to body armor, armored vehicles to protect our troops, systems to defeat IEDs, fuel and spare parts. Currently DOD is 24% of the total Federal budget and Humanitarian relief to Haiti was not in the budget. Supplimentals have been cut by the Obama administration. Education, Social Security, Medicare, Medicaid, interest on the debt are the big ticket items in addition to Defense.
Well in my view the issue is not should we assist but how do we pay for it. The reality is that if this is taken from DoD O&M then we will have to cut back on defensive combat action in the war. Short of turning off the lights and sending people home there isn’t much fat to cut anymore. The Military spending as a percentage of gross national product is lower less than 1/4 what it was in the 1950s. To put the troops at risk is unacceptable. If we have to bill DoD for this then we should stop doing something else.
oohhbother asked:
Debt will increase unless taxes are raised or these are ended:
“”Here are some of the things not covered by government revenue that we are currently borrowing to pay for: homeland security, unemployment compensation, job training, support for state and local governments, federal higher-education outlays, satellites and manned space missions, the National Science Foundation, the National Institutes of Health, the National Oceanic and Atmospheric Administration, community development, food stamps, low-cost housing, roads, bridges, environmental protection and conservation, emergency relief and reconstruction (like in New Orleans), the judicial and penal systems, international diplomacy and poverty reduction, renewable energy. These aren’t temporary programs or things we can do without. They are core public services needed for an efficient and fair economy.
Read more: http://www.time.com/time/nation/article/0,8599,1959029-2,00.html#ixzz0fdtlGfIe
Except for those wishing to return to 1776 - people are missing the point - looking for waste won’t do it - ending ALL OTHER SPENDING is needed - OR RAISE TAXES.
NOBODY is crippled by taxes in this country - I live here and pay taxes.
Deborah_R asked:
our struggling small business has a high line of credit debt that is increasingly difficult to pay off.with our severe decrease in sales revenues, what is a struggling family owned and operated business that employs 15 people to do? we have been in business for 20 years and take this business very serious, it is not a hobby business…..please advise!
Minister_Fortson asked:
This is the first time I’ve really been personally upset at the U.S. Government. Its not that we shouldn’t help other people, but where’s the $100,000,000 for people that go to work every day, pay their taxes, and just before Christmas their house gets struck by lightning and burns down? Where’s the money for citizens of this country that can’t find jobs? Haiti has a population of about 9 million. They are one of the poorest countries on the planet, but the U.S. is giving them a little over $10,000,000 per person to restore the country. Tax paying U.S. citizens can barely get a $600 stimulus check. Other people have no health care whatsoever.
I’m not a Democrat or a Republican. I’m non partisan and actually vote on the issues, but that doesn’t seem to matter because no matter who we have in office, they will continue to take our tax money and send billions to everyone in the world, but leave their own citizens poor, homeless, and sick in the streets. Don’t misunderstand, Haiti is just one thing on a long list that has built into anger over time.
America is in debt and continuing to send billions to other countries. Where is the EU bailout to Haiti? Their dollar is a lot stronger than the US dollar. What about the Pound? That’s stronger than both the EU and US Dollar. I might have missed it, but I haven’t seen anything about financial relief coming from any other major world economies.
What is wrong with America?
