budget #s released

[Danzig]

simply unbelievable:


President Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.

The Congressional Budget Office figures, released Friday, predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the White House predicted in its budget.

Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level

[Antitrust32]

Originally Posted by Danzig

simply unbelievable:


President Obama's budget would generate deficits averaging almost $1 trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month.

The Congressional Budget Office figures, released Friday, predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the White House predicted in its budget.

Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level

ugh. I cant wait for hyper inflation and jimmy carter type morgage rates

I'm renting for the rest of my life.

[Honu]

Originally Posted by Antitrust32

ugh. I cant wait for hyper inflation and jimmy carter type morgage rates

I'm renting for the rest of my life.

Amen sistah ^5 .

[gales0678]

Originally Posted by Antitrust32

ugh. I cant wait for hyper inflation and jimmy carter type morgage rates

I'm renting for the rest of my life.

what will be good is if that does develop , the housing mkt will really collapse and as long as you're not holding any debt you might be able to buy a house for only 1 - 1.5 x your salary instead of what we have now

[Honu]

Originally Posted by gales0678

what will be good is if that does develop , the housing mkt will really collapse and as long as you're not holding any debt you might be able to buy a house for only 1 - 1.5 x your salary instead of what we have now

Very true , but how marked up will the intest rates be ?

[Danzig]

i thought interest was still pretty low right now? hell, it could be zero-but that doesn't do much good when banks won't lend.
but some are able to buy-ford keeps calling me, wanting my car. i might just have to trade it in and see what they'll give me for it.

[Honu]

Originally Posted by Danzig

i thought interest was still pretty low right now? hell, it could be zero-but that doesn't do much good when banks won't lend.
but some are able to buy-ford keeps calling me, wanting my car. i might just have to trade it in and see what they'll give me for it.

Friends dont let friends drive Fords lol.

[Danzig]

Originally Posted by Honu

Friends dont let friends drive Fords lol.

tilting towards a chevy/gm. we bought my daugher a cobalt last year because ford was so much higher for a comparable vehicle-and unwilling to budge- this after we'd bought nothing but fords for years..my husband is a ford man. so, we're leaning towards an equinox, altho i plan to have tony test drive a colorado as well-i'd rather have that, and it's cheaper than the equinox. but i drive my company car weekdays, so it's ultimately his call since he'll use it more than i will.

we test drove a mercury mariner yesterday. yuk. and it vibrated like hell when you stopped at a red light. i don't think i even want to waste time trying an escape after that ride.

[hi_im_god]

Originally Posted by Antitrust32

ugh. I cant wait for hyper inflation and jimmy carter type morgage rates

I'm renting for the rest of my life.

4.5% fixed rate 30 year mortgages in the face of "hyper-inflation"?

no.

you don't want any part of that.

Originally Posted by hi_im_god

4.5% fixed rate 30 year mortgages in the face of "hyper-inflation"?

no.

you don't want any part of that.

In other words, buy a house.
You might be able to own something at
a lower monthly payment that wont change.

You will not get a fixed rate rental for 30 years
(and the hyperinflation that you expect
will kill you with a rental), unless its in a slum area.

[Danzig]

Originally Posted by pgardn

In other words, buy a house.
You might be able to own something at
a lower monthly payment that wont change.

You will not get a fixed rate rental for 30 years
(and the hyperinflation that you expect
will kill you with a rental), unless its in a slum area.

absolutely. if you're in a position to do so, you do it at a time like this.

[Honu]

Originally Posted by Danzig

tilting towards a chevy/gm. we bought my daugher a cobalt last year because ford was so much higher for a comparable vehicle-and unwilling to budge- this after we'd bought nothing but fords for years..my husband is a ford man. so, we're leaning towards an equinox, altho i plan to have tony test drive a colorado as well-i'd rather have that, and it's cheaper than the equinox. but i drive my company car weekdays, so it's ultimately his call since he'll use it more than i will.

we test drove a mercury mariner yesterday. yuk. and it vibrated like hell when you stopped at a red light. i don't think i even want to waste time trying an escape after that ride.

I drove a Cobalt in Jersey for the BC , not a bad little car.....Best car I think the family ever had and I say this because my mom bought it new was a Pontiac 6000. She drove the crap out of it and then gave it to me and I drove the crap out of it, twas the lil car that could of course after making such a great car for 4 years they discontinued it lol.
My parents always drove Chryslers and the transmissions always fell out , when mom got divorced she bought the Pontiac great car but eventually she went back to her ways of buying Chryslers and replacing the transmissions.
We had Ford tractors when I was a kid , hard clutches and they were always breaking something , best tractor we ever had was a Farm All from about 1960.....Best car Ive ever owned was actually a small truck made by Nissan , beat it to death and it never gave up.....

[dellinger63]

Do yourself a favor and check out the Kia Sportage 4X4 and its 10yr/100K warranty. I've had mine only 6 mos but love it. Gets through any snow drift while handling highways like a car. High 20's for mpg. Sure beats the Ford F-250 I drove last winter.

[Danzig]

Originally Posted by dellinger63

Do yourself a favor and check out the Kia Sportage 4X4 and its 10yr/100K warranty. I've had mine only 6 mos but love it. Gets through any snow drift while handling highways like a car. High 20's for mpg. Sure beats the Ford F-250 I drove last winter.

that's not gonna happen.

[Payson Dave]

nothing wrong with driving a ford...

[Danzig]

nope, there's not. i have an f-250 crew cab in the garage too. but i don't care for the escape, don't want an explorer. only other that i'd consider would be a sport-trac, i don't want/need a second truck. their cars for the most part do nothing for me, altho i did have a mustang a few years back. looked at the Edge for about two seconds. but we figure if we can get a decent deal on the freestyle, we'd do it.

[Payson Dave]

wait a few months and get the new Camaro... it's great looking

[Danzig]

Originally Posted by Payson Dave

wait a few months and get the new Camaro... it's great looking

lol
it's a beauty. but it wouldn't last any longer with me than a mustang-i kept that a year, basically a useless vehicle. i told tony that was my next vehicle, but realistically i can't see buying it.

[The Indomitable DrugS]

The politicans have lost all discipline years ago.

The American people have lost all discipline years ago.

The important thing to remember from this week is that now the Fed has finally lost all discipline.

That is why I now think we are eventually screwed. You can mock me for posting loudly and angerly about something like this ... but 2 + 2 still equals 4. Does it not?

[Danzig]

well, we decided not to buy anything for now. nothing really appealing on the market at the moment anyway. and nothing wrong with the car we've got....