Best way to tackle a growing debt

October 17, 2016, 3:28 pm

Agree10 Disagree2

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The debate "Best way to tackle a growing debt" was started by Nemiroff on October 17, 2016, 3:28 pm. By the way, Nemiroff is disagreeing with this statement. 10 people are on the agree side of this discussion, while 2 people are on the disagree side. People are starting to choose their side. It looks like most of the people in this community are on the agreeing side of this statement.

Nemiroff posted 2 arguments to the agreers part.
Nemiroff posted 4 arguments to the disagreers part.

PsychDave, dalton7532 and 8 visitors agree.
Nemiroff and 1 visitor disagree.

I also believe we should audit the government. I think a good combing through the budget may find a lot of missing money, without even touching a single policy.

2 years, 4 months ago

I think that we should at least put for a policy to increase the payments we make to not just the interest. I think that would be a good first step. this needs to be seen as a long term goal, but with a high priority rating, like the economy and national security. also climate change, but half of that is foreign policy at this point.

2 years, 4 months ago

I know your gonna say they should save. but the whole income vs expenses is getting tougher and tougher, while even those who saved got slammed by an unexpected illness that wiped everything out. especially in old age, that's just unrealistic.

2 years, 4 months ago

agreed on the growth, although I know we disagree (complete opposite) on how to achieve growth.

what about the costs of cutting social security? elderly people cannot work to support themselves! the free market has only moved to steadily moved to eliminate the pensions. it clearly has not solved the problem but only made it worse. of course in their case, they don't answer to citizens and they don't have to deal with the consequences. the government does since it represents those citizens til death.

by cutting social security you either let the elderly die or support them eventually anyway, if nowhere else, in the extremely high priced ER. you also lose the ability to earn interest on that massive lump that could help offset some cost.

2 years, 4 months ago

It is very unrealistic to eliminate the national debt, and I would recommend to play a debt simulation to grasp a better idea of the situation.

My one priority with the debt would be controlling and fixing social security, it is the single largest expense and its cost continues to grow rapidly.

I would also work on gaining more income by pure growth rather than just raising taxes.

2 years, 4 months ago

cash whenever possible is good advice for people incapable of selfcontrol, however I make several hundreds of free money from my cash back cards. credit for everything. just only buy the stuff you were gonna buy anyway.

that aside. national debt. not personal.

2 years, 4 months ago

Make a budget, and stick to it.Set realistic financial goals.Don't buy what you can't afford.Pay with cash whenever possible.Pay your bills on time and avoid late fees.Pay more than the minimum balance on your credit card accounts.

2 years, 4 months ago

I was referring to the national debt. there is very little talk about the debt on the left, but it does seem like a rather important issue.

2 years, 4 months ago

Work to balance income with cost of living. It could be done by either raising wages or lowering costs of necessities like rent and utilities. A large part of the problem is that many families are living paycheck to paycheck not through irresponsible spending but due to bills.

2 years, 4 months ago
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