why is the government still borrowing money? whats their credit score?

Tips and Deals Forums Improving Your Credit Score why is the government still borrowing money? whats their credit score?


Viewing 8 reply threads
  • Author
    • #203537

      if the government had a credit score, they wouldnt be borrowing money because they couldnt! and yet you see them still getting loans. why do the civilians have to have a good credit score to get loans while the government can do alll they want with loans, especially if this government is “of the people, by the people, for the people”?

    • #258632

      Armchair goddess has no life, how silly and WRONG you are!!!

    • #261612

      the most truthful answer to your question that is not agenda driven is :

      well…from an accounting point of view and financial analysis point of view…an entity borrows money and runs deficits when its expenses exceeds its revenue. Obviously, there used to be a time in the USA when our expenses and revenues where pretty much in line for the most part…and that was as recently as a few decades ago. Since then, the mindset of our politicians has been such that many have advocated that we dont need to balance the books that in fact its good to run the budget in the red…that its ok to not raise enough revenue to pay the expenses. So what we see now is govt actually spending as it always has in some areas, and spending way more than ever in other areas, yet not bothering to raise revenues so that revenues match expenses.

    • #266602

      Because the money the government borrows is not real money, it is just figures on paper and is never actually printed money that you can handle. All the largest transactions are just pieces of paper with figures on them.

    • #272903

      As people with credit cards that are maxed out can explain, the way to get out of debt and stop depending upon “borrowing” or credit is to slowly, but steadily pay down the debt and then refrain from reusing the credit while that debt is being paid down—a gradual process. Whenever possible, PAY EXTRA so that the principle is reduced faster, which saves a FORTUNE on interest.

      Interest payments are the “killer” so our income (which was drastically reduced by the Republicans) has to somehow EXCEED our spending. Sources of income in our economy include the royalties paid to us by off-shore oil drilling companies (like BP) for each gallon drawn from our resources (which is perhaps why BP insists on understating how many gallons actually spilled from the Deepwater site), and the tax revenues from wealthy corporations (which the GOP cut in 2001 and 2003), people at the very top of the income scale—i.e., the wealthiest 1.5% to 2% of Americans (which the GOP cut in 2001 and 2003), from employed Americans (whose jobs the GOP allowed to be OUTSOURCED by the wealthy corporations not satisfied with lower taxes—their greed wanted MORE expanded profits, so a move to Third-World countries was condoned by the GOP without any penalties imposed for displacing so many middle-class workers here at home)…Get the picture? The Republicans CUT REVENUES but SPENT MORE than was spent before those revenues were cut…DEFICITS UP THE WAZOO! Then the GOP began robbing from Peter (i.e., the Social Security Trust Fund, etc.) to pay assorted “Paul” entities while stripping all consumer protections or government oversight (their meaning for “less government”), and we ended up with corruption, greed, collapse of our housing and credit markets, and MELTDOWN of our ENTIRE FINANCIAL SYSTEM!

      If Ben Bernanke continues to keep interest rates at near-zero, inflation is in check for now, and the Obama administration (with help from the Democrats, but NO HELP AT ALL from the Republicans whose bad fiscal policies got this nation into these messes) has been quietly applying any paybacks from the Bush-bailout-out banks, GM, or eventually Chrysler to PAY DOWN OUR DEFICIT and thus reduce interest payments—they succeeded in an 8% paydown so far, according to Reuters and Washington Post April articles on Yahoo’s home page news. Juggling is probably the closest response to your question—as in making sure one lagging segment (i.e., jobs creation after all the outsourcing under Republican rule) does not pull all the fledgling recoveries in other segments down. CUT SPENDING SO FAR by the Obama team and Democrats: Billions cut for NASA’s ongoing moon projects (“been there; done that” was President Obama’s reason, and he suggested that NASA look to the private sector for maybe having shuttles for Americans—GM got one of these civilian contracts). More than $121 BILLION cut (and returned to our Treasury) by President Obama from the final Bush/Cheney fiscal-year budget that ended last year (Sept. 30, 2009)—President Obama cut the wasteful Bush-ordered presidential helicopter fleet ($61 BILLION) and the 168 Cheney-ordered F-22s @ $362 MILLION EACH (around another $61 BILLION saved and returned to pay down our national debt). The first budget that President Obama submitted was $90,000,000,000 ($90 BILLION) LESS than that final $1.09 TRILLION Bush/Cheney FY budget (reported by AP this month on Yahoo’s home page news, which means he CUT SPENDING for his own fiscal-year budget that goes from October 1, 2009 through to September 30, 2010 (with three months LEFT for that year, the AP article noted). In addition, President Obama has given standing orders to his Department heads to CUT at least 5% from their next budget submissions, even more savings pending. We are going in a GOOD direction now. Economic recovery depends upon CONSUMER SPENDING, which itself depends upon JOBS CREATION…and the President’s (Democrats’) JOBS bill has now cleared both the Senate and the House (it contains the extended unemployment benefits that should help families survive while jobs are beginning to grow again. The more jobs we bring back to American soil, the more expanded our economy becomes—the more consumer spending, which creates even more jobs, and so on. Our tax revenues increase with every person hired and with every dollar spent…and this ultimately will help this nation get OUT OF DEBT, PAY DOWN OUR GOP-CAUSED TRILLIONS-OF-DOLLARS DEFICIT, and REBUILD our GOP-DESTROYED MANUFACTURING BASE and MIDDLE CLASS! There are alternative-energy plants and projects in 40 of our 50 states, so help is on the way!

    • #273639

      I would imagine the federal government would have a pretty good debt score because they havent defaulted since 1933 (and they didnt totally default either, it gets complicated). Also, who is investing in America? China? They are putting alot of money into us, so they might think there is a future here.

    • #428054

      Of course your lending company is liable for services not rendered, you are untitled to your deposit in full with interest. You need to contact Countrywide send them a certified letter immediately. With a copy to Attorney General stating that Countrywide has taken your money illegally.
      The lady was employed by Contrywide and followed their directions and rules, she does not have your money. Contrywide does.File a complaint with the the attorney general and his office will take it from there.

      This is not for Small Claim as of yet.

    • #428055

      That sounds like it was a great inconvenience.
      The first thing I would do is contact the department of housing and urban development at http://www.hud.gov.
      They have a fraud unit & will open a case on your behalf in federal court (for this is a federal offense). The next thing i would do is contact a lawyer; they can do a better job of dealing directly with the mortgage company as they ARE liable for your transaction, especially if you made the check out to them and not her personally.

    • #279283

      Incredibly they say the last auction of two year bonds was a sell out despite holders getting a negative .57 percent yield, go figure. They either expect a rate hike/inflation, or figure it’s safer than holding US dollars, I have no clue I’m stumped by this, unless something big and bad is expected that is not a safe play. I’m waiting to see what Peter Schiff has to say to that one.

Viewing 8 reply threads
  • You must be logged in to reply to this topic.
Register New Account
Reset Password