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I agree that taking the gold standard away from the dollar was one of the worst monetary moves in our nations history. It's now termed a "fiat" dollar. Many countries are looking at moving away from the dollar now because of it.
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Why would you say that? jc
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That's not very good advice.
Actually it is pretty good advice.
No credit is almost as bad as bad credit.
It doesn't hurt to maintain one card and use it on a fairly regular basis. As Held said....pay if off monthly, or if you do need it for that unexpected purchase over time, work a plan where you don't carry a balance over 90 or so days.....pay the minimum x 10 so to speak.....
If everybody had like minds, we would never learn. GM Strong ![[Linked Image]](http://www.dawgtalkers.net/uploads/small-gator-chomp.gif)
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Well, there are a multitude of reasons to have more than one credit card. I have ten. There are plenty more reasons, but a quick internet search would be better at an explanation than I am. Here are some I can think of off the top of my head...
Theft. At any one time I only carry two with me. If my purse (or wallet) is lost or stolen, I only have to worry about two cards and still have others to use. Some cards are used for different things.
Rewards. The card I mentioned earlier with the rewards for gas, groceries, etc. Then you have your travel cards. Or, your store cards (good same as cash deals to be had).
Diversity. Not relying on one company to extend you $X amount of credit. What if one company reviews your account and decides to slash your limit for whatever reason? And, that is happening -- every day.
Point is, I would rather have 10 cards totaling $30k in available credit than one totaling $50k. I think it depends on the person...can they manage more than one card? One card is a recipe for disaster, IMO.
Also, the website you gave for your credit reports is a good one. I get one every four months. I also buy regular reports a couple times a year and subscribe to a place that lets me have reports daily. (FAKO scores there, not FICO.)
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My wife is a mortgage loan officer. Tough job in todays economy!
She'll be the first to tell you, Cash is king, but you need lines of credit.
Car loans, Major Credit cards or store charges are best. Get a small car loan, make the payments on time. Get a MC or Visa, use is, DON'T pay it all off every month, but don't let the balance get so out of hand that you can't pay it off with a minor portion of your saving.
And get a Sears or JC Penneys card.
With those three lines, kept in good standing and due diligence protecting yourself from fraud, you will do your credit right.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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Quote:
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That's not very good advice.
Actually it is pretty good advice.
No credit is almost as bad as bad credit.
It doesn't hurt to maintain one card and use it on a fairly regular basis. As Held said....pay if off monthly, or if you do need it for that unexpected purchase over time, work a plan where you don't carry a balance over 90 or so days.....pay the minimum x 10 so to speak.....
It IS bad advice. Sheesh. I'm out of here. If you guys want to spew this kind of stuff, I can't sit and listen. And, regardless of the number of cards you have, you should try to "maintain" them all the same....PAY IN FULL every month BEFORE the statement cuts.
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DON'T pay it all off every month, but don't let the balance get so out of hand that you can't pay it off with a minor portion of your saving.
I agree. Keep utilization to below 5% and all should be well with your scores. 
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I don't see a need for 10 cards.......but I misunderstood and took it to mean 0 cards.
If everybody had like minds, we would never learn. GM Strong
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j/c:
Guys.......I understand where you are all coming from and many good points have been made. However, I really, really doubt that our sputtering economy lies at the feet of our overspending citizens. It is much deeper than that and I think many of you are ignoring the real problem.
Perhaps you disagree w/me as you typically do. And perhaps you are right. Then again, perhaps many people are simply afraid to admit where the real problem lies. Because we really can't control that, can we?
"What lies behind us and what lies before us are small matters compared to what lies within us."
--Ralph Waldo Emerson
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However, I really, really doubt that our sputtering economy lies at the feet of our overspending citizens.
Wouldn't it be fair to say that the overspending citizens are a symptom of the larger problem? I mean, our citizens are pretty much set on a path to debt. They are not forced to follow it, but they are led down this path. There is a societal structure in place that almost ensures it. That structure comes from corporate and banking entities, which essentiall pull the strings of Washington, whose spending habits the people mimic...I mean, where do you think we got the idea of incurring massive debt and paying for it later? It's a relatively new concept in civilized human history (at least the rate of it).
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If you have read the comments, then you know I am not one who disagrees with you.
If everybody had like minds, we would never learn. GM Strong
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On another note I hope everyone knows this site: www.annualcreditreport.com
It's a site maintained by the Federal Trade Commision under a Senate provision to allow US citizens yearly access to their credit reports compiled by Experian, Equifax and TransUnion.
Is that why it says service unavailable when I click the link? Those guys at the FTC need to wake up already!  
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It is much deeper than that and I think many of you are ignoring the real problem.
Yes, it's much, much deeper than a few credit cards or high mortgage payments, but those are the things we are in control of. No?
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Quote:
Quote:
On another note I hope everyone knows this site: www.annualcreditreport.com
It's a site maintained by the Federal Trade Commision under a Senate provision to allow US citizens yearly access to their credit reports compiled by Experian, Equifax and TransUnion.
Is that why it says service unavailable when I click the link? Those guys at the FTC need to wake up already!
The link works for me.
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Well, when you're poor like me....it just doesn't matter much what the hell the economy does!!!! 
LET'S GO BROWNS !!!!!!!!!!!!!!! ![[Linked Image]](http://www.dawgtalkers.net/uploads/OldSixty-Two/new0400001.jpg) [b]WOOF WOOF[b]
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Not addressed to me, but I'd answer just the same in the hopes that it'll help people out.
While it's bad to have a dozen credit cards, it's better to have more than one GOOD types of cards with a long history of keeping the payments on schedule.
I've monitored my credit since I was 16. I even dated a girl who's father was one of the crazies that worked the formula's that dicated a persons credit scores. I maintained an amazingly high credit score (800) because I have three of the right cards and have never had more than a 30% balance on any card. That's key. Consider that if a person only has a $1000 limit, once they hit a balance of $301 it's a problem. I've taken care of my credit for years, so all my cards have limits of more than $30k. I never wanted a limitless card, hehe. If a person keeps the balances just under 30%, they can get limit increases, then pay off the cards. That drives up credit scores if done properly.
Another key is to not open up retail cards such as Dillards or Sears, and other so- called "big box retailers". Those are almost worthless because they tend to have low limits, which ruins that 30% number. Want that big, shiny, new Plasma TV? Just apply for their card with a $1300 limit, and slap that $1200 TV on it! Instant positive credit, right? WRONG! But more on that in a moment. Those cards also tend to reduce the age of the revolving accounts, which is important. Furthermore, sometimes you think you're getting a card through that companies name, but your actually getting the card through a finance company, which can drop your scores simply because they ARE a finance company.
In short, if you're going to get CC's, use Visa or MC, not Best Buy or Circuit City.
I could go on and on, but that's probably not a good idea.
One thing that you stated Hel is correct: Monitor your credit regularly. If you get too many inquiries onto your credit, that also hurts your scores. The thinking is that you may be looking to pick up several types of credit, which could indicate you're in financial trouble, and that hurts your scores. You can have several inquiries without hurting yourself, but too many is bad. An example is applying for five credit cards in the same month that you've applied for a car loan.
Not so sure why I digressed so much. I think I just wanted to give a little positive info in case these were things people didn't know. It all tied in with the comments of how the CC companies prey on people by throwing cards at them all the time.
***Gordon, I really didn't think you could be this stOOpid, but you exceeded my expectations. Wussy.
Manziel, see Josh Gordon. Dumbass.***
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Michelle, I probably shouldn't say this..........but, if we don't try to exert some control of our government's inept handling of our economy, then many›people will ultimately not have a much say on their own fortunes, and I don't care how disciplined you are.
"What lies behind us and what lies before us are small matters compared to what lies within us."
--Ralph Waldo Emerson
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Quote:
While it's bad to have a dozen credit cards,
Why do you think it's bad?
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I have three of the right cards and have never had more than a 30% balance on any card. That's key. Consider that if a person only has a $1000 limit, once they hit a balance of $301 it's a problem.
Credit scores aren't determined per card, though. If you have 5 cards totalling $20k in available credit and have one maxed out at $2000, it's no different than having that balance strung out between the 5 cards.
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Another key is to not open up retail cards such as Dillards or Sears, and other so- called "big box retailers". Those are almost worthless because they tend to have low limits, which ruins that 30% number.
It doesn't affect the 30%. As a matter of fact, if you open the big box card, it ups your total available credit making your utilization lower if you don't max it out. (Edited to take out a comment that was completely wrong. )
Last edited by DawgMichelle; 03/27/08 08:52 PM.
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Michelle, I probably shouldn't say this..........but, if we don't try to exert some control of our government's inept handling of our economy, then many people will ultimately not have a much say on their own fortunes, and I don't care how disciplined you are.
Oh, I agree. But, how do we do that? Trust me, I'm watching my IRA and the balance is dropping like a rock.
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Michelle,
Here is the scenario that happened to me. Out of college I had 4 credit cards. I did so not to spend like crazy but to boost my credit score. I spent on them and then paid on time and it worked.
2 Visa
1 Amex
1 Sears
Then someone got a hold of my Social Security number I was told and all of a sudden I'm maxed on all of the cards. I took me 3 months to get everything squared away and I ended up eating about $500 that got charged back to me by one of the Visa cards saying they couldn't prove I didn't use it. Ugggghhh.
From that point on I've used 1 card and I have a healthy limit on it. It's an airline miles card that I use all the time to get back to Ohio with. It's been fradulently used once and I saw it happen two days later and was on top of it.
You have your method and that's fine.
I have my method which I'm comfortable with.
I choose to have 1 credit card, 1 mortgage, and a line of credit with a local bank for multiple uses. It works for me and I recommend it to others.
I shudder to think back what happened with 4 cards let alone 10.
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j/c I thought about starting a new thread with this info. I may still do it as I don't want it to get buried here. Think what you want about Glenn Beck - good bad or indifferent. Glenn is not the story here - the nation's debt, along with unfunded "promised" social security and medicare IS the story. Read the link here - it's not very long - and it SHOULD scare the living crap out of you. Gone are the days of children growing up and having a higher standard of living than their parents. The vast majority of us are going to be pinched hard in the near future. I don't want to be the person crying "the sky is falling", but .......... http://www.cnn.com/2008/US/03/26/beck.deficit/index.htmlNow, throw in the possibility of federal health insurance, add to that each presidential candidate's "I'm going to spend this much on these new programs" and you can see we're in a world of hurt with basically no way out.
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Toads advice is sound. Don't put 1500 on a 1500 limit because each card is treated independantly for utilization. You're maxing that card which shoves your credit score down.
He's also right about the 3 cards and the under 30% util. That does help your score but I choose to have 1. I'm in the high 7s but will fall short of the 8s probably for this reason, and the fact that I'm under 40 so my credit history isn't as long.
If you're worried about being liquid I'd open a line of credit if at all possible. Usually it's based of an asset or assets and you only pay based on what you use. I'm not going to get into mine but it is piece of mind in case of emergency or a new business oppty.
I think you have some misconceptions on how credit is judged. It might be useful to get some more information on the subject.
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I'm not saying your way is wrong for you, Hel. What I'm saying is that telling others that one card is the best way is bad advice. That's why I added the clause that they should be able to manage more than one when I suggested having several. Sorry you were the victim of identity theft. I try to stay on top of it by checking my cards online once a week and watching my credit reports like a hawk. And, I agree, what works best for the idividual is how they should do it.
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Hmmm...........that's an interesting article. I'm sure some will dismiss it, but there are some good points in it. And it is precisely why I started this thread to begin with.
Arch, there are two key points for me:
1. This is not breaking news and our leadership has known about it for years. However, they have done nothing about it. I think we all know why.
2. It really doesn't matter what side of the political fence you are on. I was trying to get that point home on the 4,000 Dead thread. The fact is that the American public has been lied to by our "leaders" for years.
Guys......I am not rich, but I am sitting pretty financially. However, this is my country and my kids are here. My extended family and friends are here. It's time that something is done about it. It's time for our leadership to be held accountable. It's time to quit blaming the general public for all of our ills.
This countries financial problems go way beyond frivolous spending and family mismanagement of money. We got way bigger problems and damn it........something needs to be done!
"What lies behind us and what lies before us are small matters compared to what lies within us."
--Ralph Waldo Emerson
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Quote:
Don't put 1500 on a 1500 limit
Yes, I edited my post after I said it.
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because each card is treated independantly for utilization.
No, they aren't.
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You're maxing that card which shoves your credit score down.
Right, it ups your total utilization.
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He's also right about the 3 cards and the under 30% util.
Actually, I still disagree with the 3 card thing, but do agree that below 30% is good, below 7% is best.
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I'm in the high 7s but will fall short of the 8s probably for this reason, and the fact that I'm under 40 so my credit history isn't as long.
I'm not far from 800 and have 10 cards -- mixes of majors and store cards -- and I'm under 40. I expect to be at or above 800 by the end of the year.
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If you're worried about being liquid I'd open a line of credit if at all possible.
I agree and have one.
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I think you have some misconceptions on how credit is judged. It might be useful to get some more information on the subject.
 I've brought my scores up from the low 600's in just over two years. I know how it works, thanks.
Last edited by DawgMichelle; 03/27/08 09:11 PM.
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But that is the problem...that is what you have to pay to attempt to live the dream in California.....
Rent, save, and THEN live the dream. Simple. Or just buy a more affordable home to begin with.
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I think it shameful for people to assume people trying to hold on to the dream are all of a sudden poor decision makers.
Since this was directed at my comment, I'll bite. I have busted my ass to get to where I am today from my poor financial decisions earlier in my life. We are looking for a house...don't think for one second if we get in over our heads (which we WON'T because we're smart enough to know better) that we wouldn't get out ASAP. To stay and keep losing money and losing money would be a POOR DECISION.
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People usually go to every length possible before busting out.
Sure, and that's fine if there's any chance you can make it work. But, this woman can't. Unless she finds work soon, and hopefully making more than she was, she's out. She's BEEN out.
Let's say Julie and I want a $500,000 home and it doesn't work because we can't afford it. You think it's okay and nobody should say it was a dumb decision just because we were living our dream? Wow.
Rent is about the same out here. You can't save. It's a really tough place to own a home. That's why I dont' own one. It's too dangerous going check to check. I'm hoping to make more eventually, though. For people who don't, what have they got to lose? Rent is just as expensive.
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You mean California? Yeah, I feel for the folks out there, but there are more affordable areas to live in than the big cities. Sure, you may tack on a drive, but I was talking with a cousin-in-law last weekend who is currently looking for a house around LA. She was explaining the market to us and that they are finding better deals in certain "pockets" of the greater LA area than others.
The whole thing just sucks. It is very hard to get anywhere right now, I'll give ya that.
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Why do you think it's bad?
I think you may have touched on it earlier. If not you, someone else.
The human factor. If you can juggle a dozen cards, that's great, but you're in the clear minority. Many people simply can't handle opening up that many cards without having a hickup along the way. Such things include using the wrong card at the wrong time, and running a higher risk of having the number stolen. Since having more cards doesn't equate to higher scores, running the risk of carrying that many cards doesn't make alot of sense for the vast majority of people. So to K.I.S.S. it, having several cards but not a dozen makes far more sense. They've established a nice amount of historical credit worthiness without carrying the risks that go along with having all those cards.
I suppose this would be a good time to state that if someone has a bunch of cards and are thinking of sizing them down, it's possibly best to just keep the cards, as that can actually a positive. More times than not, canceling a card is a bad thing.
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Credit scores aren't determined per card, though. If you have 5 cards totalling $20k in available credit and have one maxed out at $2000, it's no different than having that balance strung out between the 5 cards.
Correct. However, back to that damned human factor again You grab the wrong card and overcharge the limit. Instant fee. One of the cards gets stolen, and you have to cancel it very quickly. If you've only one other card and some kind of emergency comes up, you can go beyond that 30% mark and accidently forget about it. For someone that has perfect credit, such a hickup isn't a problem. However, for someone who's teetering right on the edge of dropping below the 680 mark on their median reporting score (since some institutions set their limits by using the middle of the three reporting bureau's) they have to be absolutely sure they don't screw up. If they had a boo-boo right before trying to apply for a home loan, they just cost themselves an extra $50 every month on their mortgage or an extra $20 on their car payment. Or, they may have just lost the ability to qualify at all.
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It doesn't affect the 30%. As a matter of fact, if you open the big box card, it ups your total available credit making your utilization lower if you don't max it out. If you get a Best Buy card with a $1500 limit and put $1500 on it, you are still at the same utilization as you were before you started.
Going back to what I said earlier, it always comes back to the human factor. If the negatives of that factor weren't so strongly in play, people in this country wouldn't be so far in debt, causing so many problems. If they have one BB card and one Visa, and something goes wrong with that Visa, suddenly their scores are jacked.
For the most part, I'm not disagreeing with what your saying. In fact, I think I did a very poor job of explaining myself (and you caught me being sneaky. what else is new? ). I should have detailed out why it doesn't make a ton of sense to go those routes when there are smarter alternatives out there. If a person can't get a Visa from a bank, they probably shouldn't be getting a BB card, so steering away from them alltogether in case something happens is the smart thing to do. Nevermind the high interest rates and the stuff about how some of those cards are just opening up an account with a finance company. Most people wouldn't know that canceling out a card they aren't using could hurt them by throwing their credit-utilization number out of whack. I was trying to get sneaky and you went and ruined it *L*
So......Now I'm forced to say that I think it's a great idea if people would keep all their card balances below 30% (I've heard as much as 35 or 40% in some interpretations of the models but I wouldn't reccommend it) in case something happens. Again, I feel that way because most people can't juggle their credit well enough to maximize their scores.
Thanks for ruining my diabolical plan  
However, maybe I'm misreading what you've written, but if you're saying that maxing out a new BB card doesn't effect your utilization, I believe it does. It's revolving credit just like a bank card, and changes the ratio. Maybe you typed the wrong number?
***Gordon, I really didn't think you could be this stOOpid, but you exceeded my expectations. Wussy.
Manziel, see Josh Gordon. Dumbass.***
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Housing prices are down about 15 to 20 percent from last year, part of the challenge is that with the percieved loss of equity, people will allow the house to foreclose, so they can buy another one or the same for less money.
I have been in my house for 10 years, so I am ahead of the game. For a while the house appreciation per month was greater than the mortgage. But its paper money, moving would mean buying another house for me in california.
Welcome back, Joe, we missed you!
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So, the only reason not to have a couple handfuls of credit cards is because a person is a doof and can't manage them. Got it. Quote:
However, maybe I'm misreading what you've written, but if you're saying that maxing out a new BB card doesn't effect your utilization, I believe it does. It's revolving credit just like a bank card, and changes the ratio. Maybe you typed the wrong number?
Yes, I changed my post just after I typed it. It was a brain fart on my part. 
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LOL..............so, we are still concerning ourselves w/the anthill on our property while a man-eating grizzly bear is in our backyard.
"What lies behind us and what lies before us are small matters compared to what lies within us."
--Ralph Waldo Emerson
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No, we just had to get the debate settled. So, Vers, what can we do?
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Legend
Joined: Sep 2006
Posts: 42,857 |
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Yes, it's much, much deeper than a few credit cards or high mortgage payments, but those are the things we are in control of. No?
Ya know how you go to a doctor and you tell him you have a headache and he says, take two aspirin and call me in the morning...
Well, our economy is kinda like that headache. All we are doing with interest rates dropping is taking an aspirin. Until we fix the root cause of most of the problems, it will just keep reoccuring over and over again.
Greed is at the root of this. Let me give you and example. (if I felt like it, I could list hundreds of such examples)
There was a very very large population that was having trouble buying houses because thier credit was damaged.. most of the time, by thier own hand. But sometimes, by loss of job, illness etc.
So some super smart guy or gal said, hey, if we find investors that will put up money to lend out on subprime loans (subprime meaning less than perfect credit), we can make a killing. And our investors will make a killing.
And you know what, for about 10 years, they did. They rode the horse.. until those people that didn't have good credit showed thier true colors and began defaulting on Mortgage loans...
we now have a ton of homes in foreclosure... Those investors that stayed in, are losing thier butts.. those that sold out are sitting on a bunch of cash and are basicaly, untouchable.
Greed by a few did some of this to the nation.. Greed.
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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So some super smart guy or gal said, hey, if we find investors that will put up money to lend out on subprime loans (subprime meaning less than perfect credit), we can make a killing. And our investors will make a killing.
I can give you many examples of those with over 700 scores that got hit by those same creeps.  It wasn't just those with less than perfect credit...it was the monthly payment they saw and said, "Hell, Yeah!!" The somehow missed the part where it would adjust.
#gmstrong #gmlapdance
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We can dig through the business models and plans of the government and big business, but I won't pretend to know enough about it all to make an informed opinion on how to fix it. In fact, I'd assume that the vast majority of Americans don't know how to even begin to address it, but what they CAN address is their own spending and debt habits. If they fix those, they probably won't go into foreclosure or bankruptcy, and the financial institutions probably won't suffer, causing the government to have to bail them out.
It comes back to our God-given right to live beyond our means
I once spent about two weeks researching the theories behind Quantum and Temporal Mechanics. Trying to figure out how all this can be worked out is having the same effect on my brain, which is all bad  It's way beyond me. However, what I do know is that if each person fixes their own shortcomings by curbing their desires to live beyond their means and take a vested interest in their own spending habits, this country wouldn't be in this crunch. So, instead of venting on a forum about the government, which I know won't do a bit of good, I believe that I stand a FAR greater chance of helping someone here better understand their credit, which will.
Having said that, I'm used to you Versie, hehe. You want the thread to be about the bigger picture. I get it I don't have any good answers regarding a big picture that I'm not qualified to speak on, so I chimed in regarding a topic that I did.
***Gordon, I really didn't think you could be this stOOpid, but you exceeded my expectations. Wussy.
Manziel, see Josh Gordon. Dumbass.***
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Joined: Sep 2006
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Exactly. You don't walk in to the bank and say "how much will you loan me", you walk in and say, "this is what monthly payment I'm comfortable with after PITI and all other costs, what price home should I be looking to buy".
#gmstrong #gmlapdance
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Maybe I misunderstand.
If I have one card at 30k, with 3k balance and get a best buy card for 5k to buy a 4k computer doesn't that harm my credit by having one card at 80%?
My understanding is that doesn't equate to 7k of 35k of credit. I could be wrong.
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Joined: Sep 2006
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Then someone got a hold of my Social Security number I was told and all of a sudden I'm maxed on all of the cards. I took me 3 months to get everything squared away and I ended up eating about $500 that got charged back to me by one of the Visa cards saying they couldn't prove I didn't use it. Ugggghhh.
From that point on I've used 1 card and I have a healthy limit on it. It's an airline miles card that I use all the time to get back to Ohio with. It's been fradulently used once and I saw it happen two days later and was on top of it.
Hel, how did people get your personal info and CC# if I may ask? Happening once is bad, but more than once is,,well,,,,
Glad this thread was posted. I got a lot of good info off of it. My main goal is to get a house for my family. Thats what I am busting my butt for right now. Problem is I can't save for anything. Anytime I get ahead I got laid off, the wife does something stupid, medical bills, it's always something. But I am expecting a nice chunk of change from a court case I am involved in soon and my goal will hopefully be a reality next year, but like I mentioned earlier I married into bad debt that I am trying to control. Anywho, we shall see.
Our honor defend, we will fight to the end, for OHIO! GO BUCKS!
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Joined: Sep 2006
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If I have one card at 30k, with 3k balance and get a best buy card for 5k to buy a 4k computer doesn't that harm my credit by having one card at 80%?
Nope, it's figured on the big picture of all cards, not each card.
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My understanding is that doesn't equate to 7k of 35k of credit. I could be wrong.
FICO scoring comes from your total balances divided by your total available credit. So, in your example, after adding the best buy card, you would be at 20% utilization. Before you got that card, you were at 10%.
#gmstrong #gmlapdance
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OP
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Wasn't really picking on you, big guy. I'm just very concerned and I think most Americans are turning a blind eye to this topic. I fully understand your intent and it's admirable. However, if the government is allowed to go unchecked, I believe that all of these cost cutting, money accumulating strategies that many wise Americans such as yourself, will prove to be futile. This country is in a dangerous predicament. Toad........I admire you for what you said. You said you don't have the answers on this one and that you did what you could to help. That's cool. Seriously. I don't claim to be an expert either. I would like to spend some time researching, but I'll shoot from the hip. Here are some things that I believe we, as Americans, can do: {I'll try to leave out such obvious things as taxes and cutting programs, as we all know about those.} 1.I hate to start w/this one, because it will alienate most people, but we need to stop w/this nonsense.........wait......let me hold that. I'll put it at the end. Don't want to lose my audience on my first point. LOL 2. Pass a law that requires each national department to file a report if they are on track in regards to their fiscal budget. 3. Put caps on what Congress can borrow and spend. As it is now, Congress has already voted numerous times to increase both. 4. Require each federal department to report w/in a given period of time...say seven days, or a work week......of any overspending to Legislature. 5. Allow the President to terminate the employment of violators of numbers 2 and 4. 6. Stop borrowing money from China and Japan to finance the war. {yeah boy, this one is big.} 7. Each government agency/department needs to publish readable tables showing and explaining revenue overspending. 8. Impose hiring and spending freezes on all departments that exceed their particular budget. 9. Adopt this.........I copied and pasted it from an article I was reading this morning: The Financial Accounting Standards Advisory Board, which sets federal accounting standards, is considering requiring the government to adopt accounting rules similar to those for corporations. The change would move Social Security and Medicare onto the government's income statement and balance sheet, instead of keeping them separate. Want to hear the response? The White House and the Congressional Budget Office oppose the change, arguing that the programs are not true liabilities because government can cancel or cut them. Now.............back to # 1: We need to stop w/the straight party allegiance that is dividing our country. Hell, look at this board. It doesn't matter the merit of the topic. What matters is to some the Republicans are always wrong and to some they are always right. And it's the same for the Dems. That's stupid! We need to make our feelings known. We need to vote for the people who are willing to make changes. We need strong leaders for America. We need to stop this political malaise and demand accountability. We need to force our politicians, who are voted in by US, yes we are the US in US of A., to take the necessary action to start reducing our debt. Guys, I know I get melo-dramatic at times, but believe me........this is a huge problem and I don't care how frugal you are..........you will be affected if our government does not address our national debt. It starts w/you. Demand that our politicians become accountable for our future. For our home! By God.........We are Americans! And yeah Toad............that is the Big Picture.
"What lies behind us and what lies before us are small matters compared to what lies within us."
--Ralph Waldo Emerson
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