StrangerThan
Posts: 1515
Joined: 4/25/2008 Status: offline
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quote:
ORIGINAL: TheHeretic So there is this email making the rounds, from the debt ceiling debate. It tries to bring the whole thing into numbers we can wrap our heads around, by the simple device of getting rid of some zeroes, and going from this: U.S. income: $2,170,000,000,000. Federal budget: $3,820,000,000,000. New debt: $1,650,000,000,000. Total national debt: $14,271,000,000,000. To this: Total annual income for the Jones family: $21,700. Amount of money the Jones family spent: $38,200. Amount of new debt added to the credit card: $16,500. Outstanding balance on the credit card: $142,710. Now, if we are going to look at this from a family budget point of view, a bit of clarity should be brought in. It isn't just the credit card for debt. We need to see that as representing the mortgage and car payment as well. We used to have more coming in, but the spouse got laid off, and is only working part-time right now. We also have some in-laws living in the guest room, since losing their house, and while Mom is still doing ok in her apartment, we are getting stuck with the bills for her groceries. With those numbers, it's time for everybody to sit down at the kitchen table, and try to figure out a way to clean the mess up. Suggestions? First things first, the people loaning you that much money when your income is that low, are either complete idiots, or determined to squeeze every friggin dollar they can out of you regardless of whether little suzy gets her bottle at night or not. Second, realize bankruptcy isn't just a word for other people, because you're essentially there now. Third, rework your entire lifestyle as it is apparent you cannot afford it. Assuming mortgage, cars, credit cards and mom's bills are all figuring into the mix, here's the bottom line. Your house is beyond your means. Your cars cost too much. STOP using the credit card! Move mom in with you even though you already have in-laws. Downgrade on the house. If wasn't too much for you, you'd not be where you are. Sell the cars, buy an older one and learn to fix it. Cut up the credit cards - end of discussion. No one wants inlaws and mom living with them, but bottom line, if you don;t consolidate, no one is going to be able to eat soon.
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--'Whenever you find yourself on the side of the majority, it is time to reform' - Mark Twain
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