I woke up $30k in debt today

[hakrjak]

And so did you... According to something I just read, each American household took on $30,000 of debt each today with the signing of the new "stimulus" package.

Talk amongst yourselves...

- Hakrjak

 

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[kurtyordy]

at least I got a very cool........ oh that right, I bought that.......... wait a minute, I got nothing.

 

[marktech101]

Well, I can firmly say (as a person who's actually going to be paying this back) that I support this decision. This package funds many fundamental aspects of American life (renewable resources, research, etc.) that have needed reform for some time. Hopefully it's successful! Hopefully China doesn't ask for the money back soon!

 

[andviv]

careful...

this thread will become political in no time flat.

What good can come out of this one?

 

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[NoMoneyDown]

I ... [remaining removed by author due to political content]. So there!

 

[bflbob]

I'm a numbers guy, and those numbers just don't work.

$787,000,000,000/300,000,000 people = $2,623.33/person.

$30,000/household divided by $2,623.33 = 11.43 people per household on average.

I don't know about the average household in your area, but....

 

[kurtyordy]

I'm a numbers guy, and those numbers just don't work.

$787,000,000,000/300,000,000 people = $2,623.33/person.

$30,000/household divided by $2,623.33 = 11.43 people per household on average.

I don't know about the average household in your area, but....

I think the folks that quote the thirty thousand are quoting all the bailouts monies to date and committed to, not sure though.

 

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[hakrjak]

Yeh, and they are including the interest it's going to take to eventually pay back the debt one day.

Cheers,

- Hakrjak

 

[hakrjak]

I'd gladly pay $30K to get the country/world out of this economic mess...where do I send a check?

Oh, I'm going to need a receipt and a lifetime warranty, please...

Exactly... I'd feel a lot better about it if I felt like I was actually getting something for my money... but I didn't see a single provision in the bill to help stimulate real estate investing, and home buying. Something similar to what they did in the 80's when they gave big government checks to people who built "low income" homes, etc... I would have liked to have seen something for flippers, to reward them for coming into crummy neighborhoods and fixing up crack dens, etc... Instead it looks like the money all went elsewhere.

- Hakrjak

 

[phlgirl]

The $30,000 - 35,000 number is per person for the entire National Debt.

Depending on your age, you have been 'in debt' most of your life (or all of it).

As bflbob mentioned, it simply changed by a few thousand today.

 

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[MattThomas]

It definitely sucks, but when it comes to leading a country, especially the US and especially during a recession such as this, there is no right answer. We really have to cross our fingers an hope that these decisions will actually help.

Us entrepreneurs can to do our part by continuing to innovate like we do every single day and keep the entrepreneurial spirit alive and well in our country.

 

[bflbob]

I think the folks that quote the thirty thousand are quoting all the bailouts monies to date and committed to, not sure though.

Nah...can't be.

http://factfinder.census.gov/servle...2007_3YR_G00_M00001&-ds_name=ACS_2007_3YR_G00_

This shows there are about 2.6 people per household in the US.

$30,000 / 2.6 people = $11,538.46 debt per person.

$1 times 300,000,000 people = $300 million
$10 times 300,000,000 = $3 billion
$100 times 300,000,000 = $30 billion
$1,000 times 300,000,000 = $300 billion
$10,000 times 300,000,000 = $3 trillion
so...
$11,538.46 times 300,000,000 = $3,461,538,000,000, or about 4.4 times the newest package or over twice the combined package.

Am I a GEEK or what???:iagree:

 

[bflbob]

Yeh, and they are including the interest it's going to take to eventually pay back the debt one day.

Cheers,

- Hakrjak

What interest?

I thought they were just "printing" the money. Isn't that what people keep claiming?

 

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[marktech101]

We're also borrowing from China. Don't they charge interest of some sort?

 

[kurtyordy]

$10,000 times 300,000,000 = $3 trillion

this would have been much more stimulating. Imagine how much money people would be spending if we gave 10k per person to every person in the US. If we are going to sell out our future, why not do it in a big way.

 

[EasyMoney_in_NC]

I'd gladly pay $30K to get the country/world out of this economic mess...where do I send a check?

Oh, I'm going to need a receipt and a lifetime warranty, please...

I'd like to respectfully appose this idea, and here's why.

We are in this mess because of the complete 'tards that we allow to run a muck with our government and its oversight (the end of my political rant).
Because of them, and in concert with greedy bastards with not an ounce of guilt, lead the majority of the flock, some knowingly some unknowingly, into financial situations destined to fail and sold those failures to unsuspecting foreigners (amongst others here).

I for one, pay (kicking and screaming) my taxes (as little as I can legally not pay), which I feel is my deposit towards these issues. There's no way in hell I would pay more (theoretically of literally) to get any of this over any time soon.
I say let the chips fall where they may and we'll deal with it accordingly.

I for one, having a somewhat diversified set of revenue streams are seeing some interesting things going on. One business, I believe, is seeing the positive side of the economic downturn, and that is, people aren't vacationing, rather staying home and enjoying life in said home (which works in my favor for business one). Although I've had to price adjust down, my work has increased quite a bit. My revenue is coming in much differently this year than in previous years and is staying on par with previous years (I look at this as a win/win).

My rental business on the other hand is a little more difficult (although still 100% occupancy). I have recently stumbled upon a way to make a couple of them gross 90-100% more per month without much more risk and is almost as good (I think better) than having a Section 8 style government payment. That's all I'll say about that, but its a new twist for me on an old business model. Seems to even be (on the surface) dare I say recession proof.

I think we need to find positives somehow in these crappy times (and I tend to be a HUGE pessimist).
I know your comment was probably more of a tongue/cheek thing. But lets let those that screwed up, pay for their mistakes, not those of us doing what's right. In fact I hope the new package allows us legal opportunities to pay LESS!

 

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[Russ H]

Wow, what an incredibly FASTLANE thread.

Things I'm NOT reading in this thread:

-How to make money given the current conditions.

-How you are taking an upbeat attitude and turning things around instead of RANTING AND WHINING.

Where's the slowlane icon?

***********

We can go to yahoo.com or a bazillion other websites to whine and waste time complaining.

Hak, you started this thread.

WHY?

What SPECIFIC proactive things are YOU doing to accommodate what happened today?

If not, WHY did you post this?

Looking forward to your non-whining, positive, fastlane answer. :eusa_clap:

-Russ H.

 

[hatterasguy]

I'm a numbers guy, and those numbers just don't work.

$787,000,000,000/300,000,000 people = $2,623.33/person.

$30,000/household divided by $2,623.33 = 11.43 people per household on average.

I don't know about the average household in your area, but....

Count taxpayers, most people are freeloaders. I want to say 148m actualy pay any federal taxes.

I'd just like to say I'm done giving a damn about government, there is nothing I can do to stop this folishness other than voting 3rd party which I already do.

I'm so happy ACRON is getting $2.5B, the government is taking a nice $600m check to buy some new cars, and a we can now study mice thanks to $30m of this bill.

 

[WestCoast]

I'd just like to say I'm done giving a damn about government, there is nothing I can do to stop this folishness other than voting 3rd party which I already do.

correct!

If any of us ran our businesses like the government runs things, we'd be broke, homeless, penniless and owe every customer a cool million dollars each..... and pat ourselves on the back for a job well done!

 

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