Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If the middle class isn't buying and selling homes it all goes to sht. If overblown as in 2008 it can of course go the other way. Especially if boosted by various layers of fraud and deceit.
Why are you establishing this false binary between....
(a) spending 100% of your income and stimulating the economy or
(b) saving 100% of your income and depressing the economy?
There's no good that could possibly come from not having money saved for a rainy day. We need to start putting long-term priorities over short-term rewards. The data show that savings translate into greater economic productivity than consumer spending anyway. It's not like savings sit in a piggy bank.
He didn't do anything to slow the housing and financial bubbles which exploded in his face.
You slow economic bubbles down with regulations and tax increases. Bush did the opposite and made worse.
Same thing is happening under Trump, doing nothing to prevent another huge crash.
Right, he should have shut down the democrats propping up of zero down mortgages and easy qualifying for low income folk. Started with Clinton and propped up by democrats.
Why are you establishing this false binary between....
(a) spending 100% of your income and stimulating the economy or
(b) saving 100% of your income and depressing the economy?
There's no good that could possibly come from not having money saved for a rainy day. We need to start putting long-term priorities over short-term rewards.
It is a matter of overall and relative middle class spending volume at any current time. Not an all or none thing.
If 100 million households all save their discretionary income at the same time, and/or don't borrow, then our overall economy has to suffer.
My link says $655.8b. How much does the tax overhaul cost us?
Current estimates, without more spending that the Repubs want to add, around 1.5 Trillion. Add in another proposed 1 Trillion for infrastructure and God Know how many Billions for a Wall, and who else knows what, add more Military Spending and NASA and the figure keeps climbing, and we are cutting revenue........Brilliant
Right, he should have shut down the democrats propping up of zero down mortgages and easy qualifying for low income folk. Started with Clinton and propped up by democrats.
I really love the headline of this article: "Zero Down Mortgage Initiative By Bush Is A Hit"
Quote:
Bush proposed zero-down-payment legislation earlier this year. The Congressional Budget Office has contended for months that the proposal would generate huge losses, an assessment that could be a stumbling block for the bill's passage. But the Department of Housing and Urban Development thinks the program could be run on a break-even basis.
Bush contends that reducing the required 3 percent down in the Federal Housing Administration mortgage program to zero down would help 150,000 first-time buyers in the first year. Homeownership rates are now about 69 percent nationwide, compared to about 64 percent 10 years ago. The FHA insures many private-lender home loans.
"To build an ownership society, we'll help even more Americans to buy homes," Bush said in an Ohio speech to home builders. "Some families are more than able to pay a mortgage but just don't have the savings to put money down."
A spokesman for the campaign of Senator John F. Kerry said the plan will help "relatively few families." Kerry's emphasis is on preserving affordable-housing programs that he says Bush has slashed.
Meanwhile, low- and no-down-payment mortgages are available to more people than in the past. A 30-year fixed-rate mortgage with a 20 percent down payment is one of many options available today. Home buyers are making smaller down payments on a percentage basis, and sometimes choosing adjustable-rate mortgages or obtaining two mortgages on a purchase.
The tax overhaul gives the private sector an additional $1.5T over the next decade.
Quote:
Originally Posted by Casper in Dallas
Current estimates, without more spending that the Repubs want to add, around 1.5 Trillion. Add in another proposed 1 Trillion for infrastructure and God Know how many Billions for a Wall, and who else knows what, add more Military Spending and NASA and the figure keeps climbing, and we are cutting revenue........Brilliant
Gives to the private sector or contributes to the debt?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
