its funny, but lesson one isnt the fiscal cliff fiscal cliff is politico lingo to scare people into thinking reducing the deficit is bad so that obama can sell the need to maintain the deficit
Brilliant. It's boggling to me that one of the problems of the 'fiscal cliff' is a raft of taxes being applied or reapplied. What is Obamas solution? In essence: More taxes...
Another way to look at it would be..... There are no countries running balanced budgets with a "democratic" govt system. Anyone remotely suggesting any form of change or sound money is a terrorist. While the way things are has provided middle class Americans with a great quality of life the past decades. Best to just raise the ceiling and all will be ok. No need to consider unproven, risky, terrorist ideas. Everything will be ok.
$142k on the credit card, and only $21k income. Sweet there's no way they can ever get their money back. If they don't lend you another $16k you can't pay the interest...... That reduces the value of the $142k debt to cents in the dollar on the bad debt market, it's all ok as long as the loss isn't realised. Better to give away another$16k than loose far more. Got them by the balls.