Author Topic: Real state debt at $4.2 trillion  (Read 417 times)

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Offline BMG

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Real state debt at $4.2 trillion
« on: October 26, 2011, 02:40:52 PM »
http://www.americanthinker.com/blog/2011/10/shocker_real_state_debt_at_42_trillion.html

Quote
The nonprofit State Budget Solutions combined states' major debt and future liabilities, primarily for pensions and employee healthcare, unemployment insurance loans, outstanding bonds and projected fiscal 2011 budget gaps. It found that in total, states are in debt for $4.2 trillion.
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Online Pandora

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Re: Real state debt at $4.2 trillion
« Reply #1 on: October 26, 2011, 02:45:48 PM »
4.2 trillion.  And that's just the states and congress' super-committee is scrambling around trying to avoid cutting 1.2 trillion OVER TEN YEARS from the Federal budget.

Stellar.  All of it.  We are so ska-roo-ed.
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Offline Libertas

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Re: Real state debt at $4.2 trillion
« Reply #2 on: October 26, 2011, 08:31:51 PM »
Screwed without a kiss.  Actually more like a rape I think!

 ::outrage::
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Offline Castaway

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Re: Real state debt at $4.2 trillion
« Reply #3 on: October 27, 2011, 11:17:48 PM »
From what I understand they are still giving these loans out through programs like the USDA & VA where you can finance more than the value of the home.  The government eats the PMI insurance.  I paid PMI on my first VA loan back in the 80's. 

America can no longer afford this.  Setting these people up like this is terrible as housing has not bottomed in most areas.   If a bank wouldn't under write it why does the goverment who has never made an investment outside of maybe TVA in my lifetime that saw a ROI figure they are smarter? 

Offline LadyVirginia

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Re: Real state debt at $4.2 trillion
« Reply #4 on: October 27, 2011, 11:23:15 PM »
Quote
housing has not bottomed in most areas

so they are gonna do all they can to make sure it does--
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Offline Libertas

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Re: Real state debt at $4.2 trillion
« Reply #5 on: October 28, 2011, 07:29:28 AM »
It won't bottom out as long as the economy stays in the toilet, the debt situation is likely to remain high and increase...

Screwed.
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