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Thank goodness pretty much everybody on CD agrees this is NOT a good idea. I'm in the Chicago region and we still have a ton of houses which are upside down, fueled by the last round of using your house as an ATM. Retail sales should be bolstered by job growth and income growth, not pulling equity of our your home.
Sacrice everything to make your dear leader look good. Then, go ahead and blame everyone else when you can't keep your head above water.
Not me. I've been sending extra money towards principal for years. My house is my home, not a credit card.
GOPers like you blasted people for using their homes as credit cards prior to the near depression of 2008. Now it's ok because it would help "your team" look good.
Who is Dudley the dud wanting to benefit ? Retailers.
How many bought a home so they could benefit retailers ? Why not just put them up for free in the guest room for 20 years ?
Having a home that is paid off when you retire sets you up for a better retirement experience. I you buy young and pay it off ten years before you retire then put the same amount into retirement you benefit.
People like Dudley are not concerned about you. If you improve the economy and harm yourself is that a smart move ?
This isn't just about retailers. It's about banks too. Who do you think benefits from all those refi's?
Reagan tripled the national debt, doubled the amount spent on foreign aid, and despite his blather about cutting taxes, enacted eleven tax increases including "Tax Equity and Fiscal Responsibility Act of 1982. TEFRA—the largest tax increase in American history—was designed to raise $214.1 billion over five years, and took back many of the business tax savings enacted the year before."
He also expanded the federal work force while pulling the rug out from under unions.
I'm not sure Reagan was totally responsible. There's a good chance he was just the front man for someone else as during the last years of is administration, he was clearly delusional at times, talking about his service in WWII. He never left Hollywood. He was confusing the movies he acted in with real life. Leslie Stahl reported a very unusual interview with him when he obviously was not with it.
"Reagan ended his 1988 farewell speech with the memorable line, "man is not free unless government is limited." The line is still a rallying cry for the right wing, but the speech came at the end of a long period of government expansion."
In any case, he did not leave the U.S. economy in better shape than he found it.
Since we don't know what shape Trump and the Republicans will leave our economy, pulling the equity out of your home is a fool's move.
Better plan would be be keep a close eye on your finances with only essential spending until we see which way the wind blows this time around with this crowd of Republicans.
Last edited by GotHereQuickAsICould; 01-18-2017 at 11:22 AM..
This is the last gasp of Keynesian economic folly. Cash ban, negative rates on tap. System is unsustainable and they know it. The great unwashed masses will want them swinging from trees soon.
Reagan tripled the national debt, doubled the amount spent on foreign aid, and despite his blather about cutting taxes, enacted eleven tax increases including "Tax Equity and Fiscal Responsibility Act of 1982. TEFRA—the largest tax increase in American history—was designed to raise $214.1 billion over five years, and took back many of the business tax savings enacted the year before."
If you are going to spend you have to tax.
Quote:
He also expanded the federal work force while pulling the rug out from under unions.
I'm not sure Reagan was totally responsible. There's a good chance he was just the front man for someone else as during the last years of is administration, he was clearly delusional at times, talking about his service in WWII. He never left Hollywood. He was confusing the movies he acted in with real life. Leslie Stahl reported a very unusual interview with him when he obviously was not with it.
"Reagan ended his 1988 farewell speech with the memorable line, "man is not free unless government is limited." The line is still a rallying cry for the right wing, but the speech came at the end of a long period of government expansion."
In any case, he did not leave the U.S. economy in better shape than he found it.
Since we don't know what shape Trump and the Republicans will leave our economy, pulling the equity out of your home is a fool's move.
Better plan would be be keep a close eye on your finances with only essential spending until we see which way the wind blows this time around with this crowd of Republicans.
Carter didn't get crushed for no reason.
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