« previous next »
Pages: [1]   Go Down

Author Topic: Real state debt at $4.2 trillion  (Read 1224 times)

0 Members and 1 Guest are viewing this topic.

Offline BMG

  • Established Member
  • ***
  • Posts: 1320
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.
Logged
“The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government.” 
- Patrick Henry

"The more corrupt the state, the more it legislates."
- Tacitus

Online Pandora

  • Administrator
  • Conservative Superhero
  • *****
  • Posts: 19529
  • I iz also makin a list. U on it pal.
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.
Logged
"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

"Let us assume for the moment everything you say about me is true. That just makes your problem bigger, doesn't it?"

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 63919
  • Alea iacta est! Libertatem aut mori!
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::
Logged
We are now where The Founders were when they faced despotism.

Offline Castaway

  • Likes the place
  • **
  • Posts: 53
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? 
Logged

Offline LadyVirginia

  • Conservative Superhero
  • *****
  • Posts: 5168
  • Mt. Vernon painting by Francis Jukes
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--
Logged
"And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor."

Offline Libertas

  • Conservative Superhero
  • *****
  • Posts: 63919
  • Alea iacta est! Libertatem aut mori!
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.
Logged
We are now where The Founders were when they faced despotism.
Pages: [1]   Go Up
« previous next »