Household debt jumps the most in 12 years, Federal Reserve report says

Not at all.

The Green New Deal is on sale this week.

 

The national debt is because of proposed legislation that hasn’t even been finalized?
Lol, you cons — funny.

 

It could be related to the fact that Nancy Pelosi hasn't submitted a budget since she's been in charge.

 

She submitted a two year spending agreement that even trump voiced support of, you need to revisit your talking points
https://www.politico.com/story/2019/07/25/house-gop-budget-vote-1433848

 

28 minutes? Mine's 40 minutes. Not sure what bearing that has on Amazon.

 

Has she done her job and submitted a budget or no?

 

Yes, for two years to get us through the next election without another shutdown.

 

So that's a no, she hasn't submitted a budget.

Democrats don't expect to do 2020 budget

https://thehill.com/policy/finance/477624-democrats-dont-expect-to-do-2020-budget

 

The 2007-2009 Great Recession was triggered by a subprime mortgage collapse, but the underlying cause was the overextension of banks (i.e. a credit and banking crisis). Without regulation, "credit" is a dangerous drug. You seem to be saying "Be Happy! Don't Worry!"

 

Because one was already submitted that covered 2020 and Mitch has refused to allow it to a vote.
Why would they attempt to pass a new one?

 

Yes it was in the budget she didn't submit last year either.

 

There for a moment I thought in 2009, I thought the nightmare was finally going to be over, NOPE!
Absolutely nobody who didn't get your two links and the relationships will not get a fracking thing from the following:


2004 Democratic Platform:

"Average family debt is higher than ever. And as they lose the struggle to make ends meet, one out of every seven middle class families may be bankrupt by the end of the decade...over time, fiscal discipline saves families thousands of dollars on their mortgages and credit cards.”

“You have probably caught that Visa credit card commercial in which a wily wife hides her many shopping sprees under the bed and up in the attic, all out of sight from her clueless husband.
The punch line is that she could have won all that stuff she rung up on the plastic. But the reality behind such behavior is hardly a laughing matter.” (Rene a. Guzman, San Antonio Express-News Jan. 12, 2005 12:00 AM)

Neither Feeney or Kosmas responded to this:

"No creditor shall issue debt to any household which could exceed a 36% debt to income ratio, without the written knowledge and consent of both spouses or domestic partners in the household and each and every creditor the household already owes."

http://www.politicalwrinkles.com/ne...rd-rules-limits-teen-cards-10.html#post115060

"BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DivisIoN OF BANKING SUPERVISION AND REGULATION Date: September 30, 2005:"
"Another parameter that could be combined with LTV ratios to determine capital requirements might be a capacity measure such as a debt-to-income ratio." http://www.federalreserve.gov/BOARDDOCS/PRESS/BCREG/2005/20051006/Basel1Amemo.pdf

"The Charles Schwab Corporation ("Schwab,,)l appreciates the opportunity to comment on the Advance Notice of Proposed Rulemaking ("ANPR") issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision (together, the "Agencies") regarding proposed revisions to the Agencies' existing domestic risk-based capital rules...

...P. 14 Another parameter that could be combined with LTV ratios to determine capital requirements might be a capacity measure such as a debt-to-income (DTI) ratio. The Agencies seek comment on (1) the use of an assessment mechanism based on LTV ratios in combination with credit assessments, debt-to-income ratios, or other relevant measures of credit quality; (2) the impact of the use of credit scores on the availability of credit orprices for lower income borrowers, and (3) whether LTVs and other measures of credit worthiness should be updated annually or quarterly and how theseparameters might be updated to accurately reflect the changing risk of a mortgage loan as it matures and asproperty values and borrower's credit assessmentsfluctuate. While we do support the use of combining LTV and industry standard FICO type credit scores in a risk-weighted capital guideline, as noted above, we do not support the inclusion of a capacity measure such as debt-to-income ratio (DTI). Our concern regarding the inclusion of such a measure is two-fold: (1) DTI is a much more subjective measurement than LTV or FICO score, and is not consistently calculated and applied by all lenders. Different lenders will calculate both income and debts using various guidelines. Additionally, some lenders will base DTI calculations only on verified income, while others may rely on stated income. There is too much variability in how this measurement is calculated and applied for it to be a meaningful guide to risk-based capital guidelines. And, (2) statistics have shown that DTI is a much less robust predictor of probability of default, or loss given default, than FICO scores and LTVs.

We do not believe that the use of credit scores in the risk-based capital guidelines will have a negative impact on the availability or price of credit to lower income borrowers. While the cost of capital can generally affect loan availability and price, we do not believe that applicant income is necessarily correlated with credit score. Many applicants with lower incomes have acceptable credit scores, while many applicants with high incomes have unacceptable credit scores. Banks are motivated to grant loans to generate revenue and profit, and most banks have very progressive mortgage programs for lower-income and fIrst-time homebuyers. The Community Reinvestment Act provides additional motivation for banks to reach out to meet the credit needs of the low-to-moderate income borrowers in their assessment areas" (January 17,2006, http://files.ots.treas.gov/comments/3173270d-dbd0-4b64-b398-487753ad9f27.pdf )

"Fed to discuss max 50% debt-to-income ratio for borrowers, prohibition on 'stated-income' loans to subprime borrowers, and other new rules" (May 29th, 2007, 3:38 pm) http://mortgage.freedomblogging.com...ns-to-subprime-borrowers-and-other-new-rules/

"Your debt-to-income ratio
36% or less: This is a healthy debt load to carry for most people.
37%-42%: Not bad, but start paring debt now before you get in real trouble.
43%-49%: Financial difficulties are probably imminent unless you take immediate action.
50% or more: Get professional help to aggressively reduce debt.
Source: Gerri Detweiler, author of The Ultimate Credit Handbook"
http://www.usnews.com/usnews/biztech/tools/modebtratio.htm

End of slavery:

“The Federal Reserve's rule told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.”
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3WiwAm9JK

Slavery reinstituted:

“U.S. Reps. Carolyn Maloney, D-NY, and Louise Slaughter, D-NY, both among the principal authors of the CARD Act, said the rule ‘goes beyond the intent’ of the law and ‘represents a serious risk for women in abusive domestic partnerships.’"
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3Wivmh5r8

 

It has less to do with Amazon and more to do with there not being another option.

 

The cause of all that is spending.

If you spend nothing you accrue zero debt.

the problem is spending people voted for Donald Trump because they didn't want more taxes.

Seems the only thing really to do is cut spending.

That won't happen because that's how people get people to vote for them.

All you can do is hope Trump wins re-election. if Buddy giger Sanders does of the Dead is going to go through the roof and probably end up in some sort of severe economic turmoil.

 

There is no way to cut the budget 1.2 Trillion dollars without immediately placing the US into a recession especially if it is just directed at domestic programs like many here argue — and that amount just wipes out the deficit, it pays nothing extra to the debt. Tax increases plus immediately cutting government fraud and waste in all areas — including the military — and then make structured cuts from there.

 

Our government is addicted to spending and our people have become reliant on it.

**** the middle class tax them into poverty

 

I am not an advocate for taxing the middle class more, we need to remove many tax breaks and increase our tax scale from 5 brackets to 7 with substantially higher rates at the top.
Also, all income should be treated as regular income.

 

Increasing taxes no matter how you restructure it always burdens they middle class

 

We allowed this debt together, everyone will have some pain paying it back — or we can just keep kicking the can until our children or their children become unable to pay even the interest and see what happens.

 

Weren't you just advocating socialized medicine that won't just kick the can down the road that will inflate it.

How about putting a halt on developing more entitlements and let's deal with the debt we have.

And we had nothing to do with it. I voted against this.

 

We must address paying double what every other nation pays for similar levels of care — I believe [and numerous economists agree] that a public option will lower our overall cost

Ah, the pitfalls of living in a society.
I don’t support many things we do in this country — but I understand I will have to help pay for them.

 

Subtract the annual deficit from the GDP growth, you have hardly any growth left, credit card economy.
Some call it a boom.

 

Like military entitlements for the defense industry ?

 

People should live within their means and it's not anybody's fault if they choose not to except their own.

 

Losers always want socialism