Dave Ramsey on Debt

My wife and I took the Dave Ramsey Financial Peace course this year and it was great. I get the little newsletter now and typically I just delete it, but I liked the stat that came in the one today, interesting to view this way. I'm sure it will cause some kind of debate, go at it. [Beer]

"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." - Dave Ramsey

So raise taxes......... back to 1960s levels

That's a good course! My wife and I took it about 2 years ago.

My gut told me you'd be the first one in here. Good morning nynco ;)

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Originally Posted by Cman

That's a good coarse! My wife and I took it about 2 years ago.

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Amen buddy, helped us out a bunch. 100% debt free this October, I'm gonna be so excited I will throw a party, yall fellers can come ;).

Not one week ago I made that correlation on my facebook page.

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I just sat down with my finances and realized that I bring home four thousand a month but I spend six thousand a month with my credit cards. I think I will take a page from the federal government on how to get out of debt. I am going to raise my limit on my credit cards and only spend 5300 a month from here on out.

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Originally Posted by UberTong

"If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand." - Dave Ramsey

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What a cool analogy. Had this been put in front of the American people during this whole debacle, we would most certainly find that the vast majority of Americans would probably not be in favor of what the resolution was.

So close tax loop holes and make all investment income taxed the same as regular income.

Raise revenue.

Taxes currently are at the lowest level in over 50 years. Your own numbers show that no matter what we do, we can't cut our way out of this. So you have to raise revenue.

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Originally Posted by nynco

So raise taxes......... back to 1960s levels

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Taxes, while lower than 1960's rates, are far higher revenue at lower levels. This has been shown time and time again that raising taxes doesn't fix the problem. At the heart of the problem is cutting spending. Using the family analogy again, if you are making $100K a year you are likely to be living on $100K a year, if you get a raise you might buy a bigger house or a better car. The moral being that giving the government more money is not the answer, when you are spiraling out of control with your debt you need to cut your expenses because YOU, as a person, just can't make more money, the government can - and does - and lives way beyond it's means.

I'm gonna derail my own thread here for a minute. I just spoke with my college roommate and he is currently in PA (physicians assitants) school. I asked him how he did on final exams. He said good in everything except "MEDICAL SPANISH". Just gonna go out on a limb and say screw that hard...have at it people, that's bullshit. So not only do illegals come here ILLEGALY, but we are now catering to them.

Second item, I thought this was cool because it would never happen today in our spineless, mangina ridden society.
Today in 1981: President Reagan fired 11k striking federal air-traffic controllers who ignored his order for them to return to work.


//rant over.