It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: BMG on October 26, 2011, 02:40:52 PM
-
http://www.americanthinker.com/blog/2011/10/shocker_real_state_debt_at_42_trillion.html (http://www.americanthinker.com/blog/2011/10/shocker_real_state_debt_at_42_trillion.html)
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.
-
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.
-
Screwed without a kiss. Actually more like a rape I think!
::outrage::
-
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?
-
housing has not bottomed in most areas
so they are gonna do all they can to make sure it does--
-
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.