Barack Obama and the Party of Treason want to change America. They have worked hard to change America by wrecking the economy and destroying the American dream.
As real Americans stand up to fight Obama and the Party of Treason, could Obama have actually ushered in the era of Dave Ramsey economics?
Dave Ramsey is the famous talk show host and financial advisor whose primary advice is to get out of debt and stay out of debt.
The Great Obama Depression has taken the net worth of the average American down by 40% in just his first three years. Who are the people who have suffered the most under the Great Obama Depression?
They are people who were in debt.
They are people who borrowed too much money.
William Shakespeare famously wrote in Hamlet, “Neither a borrower nor a lender be.”
Albert Einstein called compound interest the 8th wonder of the world. Many Americans are learning what a disaster it can be when you are borrowing money. The light is coming on for many Americans who realize that when you get a thirty year mortgage you are paying $500,000 for a $200,000 house, that might not be the best financial move.
Many Americans are realizing that if you buy that new car, not only does it drop 30% in value the moment you drive it off the showroom floor, but if you finance it, you may be paying $75,000 for a $25,000 car.
Lending may be great business for bankers but for most Americans it is not a good deal and the debt created by the policies of the Party of Treason has bankrupted much of America.
We need a recovery but a recovery based on borrowing is simply setting us up for the next fiscal disaster brought on by the Party of Treason.
How do we do this?
Mitt Romney is poised to win this fall. The Obama campaign is faltering badly and with the economy in the Great Obama Depression, it will be hard for him to win. Indeed, even some previously solidly blue states are in play this year.
Romney is coming to Washington; unfortunately he has no serious plans to cut taxes to stimulate the economy.
Here is an idea that could stimulate the economy and help re-launch the American dream. Instead of saving the 5% or 10% needed for a down payment for a mortgage, let’s create home savings accounts. These accounts would be not only tax deductable but totally tax-free. Any person could contribute whatever amount they wanted to into a home savings account. The money cannot only grow tax-free but when it is time to pull the money out, there are no taxes paid on the money period. The only catch is the money must be used for the purchase of a house.
The same thing can be done for cars as well. If we want to stimulate the auto-manufacturing sector of the economy, create car savings accounts with the same rules.
These ideas would allow Americans to get into new homes and cars, without debt, stimulate the economy and provide savings that could be used for investments.
Where is the down side?
Some of us were Dave Ramsey followers, before Dave Ramsey got started. I find his message to be boring: each show is a different take on the same theme: live within your means!
In terms of economic recovery, however, the Dave Ramsey approach is slowing the "Recovery" (if indeed there is one.) Tens of millions of citizens have reacted properly, by cutting back and paying down debts! The intelligent approach, most certainly.
I agree Vern. Huge Dave Ramsey fan and follower. He's a genius with a very simple but effective message of TRUTH. I've listened to what Dave Ramsey has to say about government spending, the debt and the economy. Frankly, more Americans - particularly those in government and leadership positions - ought to be listening to Dave and following his advice.
Here's a thought: How about Romney appointing Dave as Secretary of the Treasury? We don't need another pencil-necked Wall Street geek that plays Russian roulette with our money and economy by playing risky games and strategies like derivatives with monetary and fiscal policy and the fundamental foundation of our nation's economy which we've all worked so hard to build over so many generations: our money, the US dollar!
I can't think of anyone better qualified, or who would better protect, defend and preserve the US dollar for future generations, than Dave Ramsey! Just look at the example of his own life, his home, his family.
When Credit Cards came about, I remember what my Father said. It will be the death of a marriage. If you want something, save for it and plan ahead.
Actually what we need is to go back to the Constitution as the founders originally wrote it. Congress needs to spend money only on the 21 or so enumerated powers the Constitution granted. If we repealed the 16th and 17th amendments and this country would prosper as it never has before. There should be no taxes on any kind of income.
Well said, Brimstone. Instead, tax consumption via the FairTax.
wish they had that when i was young. great idea!
The down side would be the delay while the savings accounts build. That is what should be done and not have mad loans which cannot be repaid. I had my savings build prior to making a planned purchase.
All my life since my first job was to save for a raining day. Never in my life have I ever try to out do the neighbors on who has the best and latest. At least my is paid off.
Another note, if the Private Sector is doing find, where do I sign up.
HaHa, amen brother! Where can I go to get my privacy back?
I like it. But removing the banks' cash cow would have the bankers reaching into their pockets to speak to their congressman. And no, they wouldn't be reaching for a cell phone, they would be reaching for a congressman.
Now that's funny! Wait...no its not!