Servey 5: True/False?

Question

Do you think that ever since george dub declared war in iraq & the constant funding for the war is the reason the whole U.S i slowly loosing in it stocks,city fundings and home retail sells is the reason why we are loosing money?

Answer 1

Probably

Answer 2

i thinkie false....hey emo whats up ish me issy XD

Answer 3

No, it's the fault of everyone who overspends and doesn't pay their bills.  If someone goes bankrupt and gets rid of his debt that way, who do you think reimburses the merchant who was due the money?  The rest of us.  

I bought a house that cost three times my gross annual wage; this is unusual at times like this.  Other people took out cheap 5 year mortgages and "forgot" about the balloon payment and the fact that the percentage rate would fluctuate with the market from then on.  Lenders were happy to take all the cash they could get their hands on and then sell the loan to someone else who takes over the risk.

Just like when buying a car, people look at the monthly payment and don't consider that they will be paying for 7 years, which is never worth any where as much as is due and where most of the payment will be interest.

The stock market goes up and down as erratically as the wind blows.  We have a monetary system that's not based on anything.  It used to be that if you took $1 to the bank, it was worth $1 of gold.  Now it is worth $1 of promises.  We love buying inexpensive electronics from countries that will not let us sell our products at the fair market value.  We let our major companies move their plants away from the United States so they can get cheaper labor that is willing to work for much less and is not unionized.  We don't even manufacture all the products needed to wage this war.

I just saw a billboard that said that my state had gotten $6 billion from gambling revenue.  Where did it go?  Why did our sales tax increase from 6% to 7% on Tuesday?  We are lowering property tax at a time when we have no idea where we will make up the lost revenue (the 1% increase won't help at all).  We sold our toll road.  Why hasn't all this money improved services?  We have a surplus one year and are millions in debt the next year.

This situation is much more complicated than money spent on the war.

Major Categories of Federal Spending:  2008 Outlays

Source: CBO March estimates 03/28/2008

Medicaid  7%

Medicare16%

Social Security 21%

Other Mandatory Expenses 10%

Net Interest  8%

Defense Discretionary 20%

Non-Defense Discretionary 18%

Answer 4

No.  It's mainly because people in the US take on more debt than they can handle.  The economy was based on deficit spending for a long time.  People took out high mortgages and refinanced homes that they owned.  At the same time bank exectuives figured out that they didn't need to hold the note on that mortgage.  They could bundle together hundreds or thousands of mortgages and sell them to investors who would then collect the payments and make a profit.  

Now the guys writing the loans don't need to hold them until maturity, so they're not paying too much attention to who they're giving big, high interest mortgages to.  They don't care if the guy continues paying, they'll just sell the debt to another financial insitution.  Well, the housing market's prices went down, people couldn't make payments, and the big investment banks who bought all that debt find the home owners can't pay and forclosing leaves them with a home that will sell for less than the ammount of money the original mortgage was written for.  

Having said that, Bush's spending on the war in Iraq is a problem.   Much of that money is coming from foreign countries, like China and will eventually have to be paid back with interest.

By the way, it's spelled survey.

Answer 5

True, but it is also partially our fault for putting everything on credit and not paying it back and thus incurring further debt and more and more foreclosures with some due to financial irresponsibility and others because we lost jobs overseas and then also in funding the war effort we have neglected our duty to those in need here.

Answer 6

im not sure, but it might be so.

Answer 7

Let's not blame it all on George, the House of Represenitives ,Senators all have their say....He signs after they have their say.