Anyone that has had a foreclosure on their credit report during the last 24 months will have it removed, purged from their credit file. No longer does bad credit stay on your credit report for 7 years, we change the 7 years to 4 years. Of course, the entire credit reporting system needs to be overhauled. If the credit reporting companies can charge you to keep your credit clean let have a federal credit reporting agency and pay them. The money can go to help reduce the national deficit. The credit reporting agency can complain about it, competition is good for everyone. This restores even more confidence in the American public. Some people will take advantage of this and some people that should not be borrowing will but in the end it makes consumer confidence sky rocket.
That brings me to jobs; consumer confidence goes up, credit extension is restored, people homes are now sitting with appreciation. What do you think will happen? People will go out and spend money, when they do, business will need to carry more inventory, they will need to hire more people, manufacturing will have to go up to keep up with supply, and you get jobs, lots of jobs. Businesses are making money again, and when they make money they pay their employees more, everyone is happy, and our economy is thriving.
To make sure that we don end up where we were and are, we have to put checks and balances in the system; eliminate low doc loans, eliminate no doc loans, and eliminate creative adjustable rate mortgages. You buy what you can afford. You need to refinance problem you must have equity in your home. The forgiven debt on the re-forecasted mortgages, seconds and Helocs, can be negotiated on the refinance. But in the end the home must stay below the 85% loan to tax assessment, you can borrow more than 85% of tax assessment.
The rest is hard and easy, meaning you can have a budget and maintain spending if you don have money coming in. Let start with the states that are going out of business. Have the government step in and give the states zero percent loans, a giant debt consolidation loan, BUT the only way that the states can do this is to present a balanced budget within 90 days, much like congress required the car manufacturers to do. They gave the car manufacturers a bridge loan, told them to come back in 90 days (which they are about to do) and when they show them a balanced budget and a feasibility of success for their business model the government they will loan them more money. We should do the same thing for the states. Of course, once you do this you get jobs flowing again on the state level. in the coming years. Thirty Eight billion, are you kidding me? I am talking about pure infrastructure projects. We should double or triple that amount! It can hurt, it creates jobs, some states will get more some will get less but let
Cheap Cartons Of Cigarettes Congress fight it out. The only caveat is the money, if for pure infrastructure, no pork. I saw China was spending $40 billion just on telecommunication infrastructure growth. One special area of infrastructure and they are spending more than we are. We are spending less than China on our entire
Buy Cheap Cigarettes Online infrastructure growth!
More on a balanced budget, as we start to cut those much needed projects and hard to make decisions on programs, we have to remember just like in business, if you wait too long to cut it too late. Cut now so that you can be around to build later. You will be able to add these programs back as you make more money but for now you have to get to a balanced budget. You will also have an easier time to plan for your budgets on a local and state level as everyone is living in a home that is 85% of the tax assessment. The appreciation will kick in quickly allowing for more revenue, all the real estate closings that will be taking place will help the tax income go up for the local and state governments.
Now for some not so exciting tax increases. Overall we cut taxes, maybe even consider a flat tax. They can argue this one in Congress too, but what we want to do is get everyone paying their fair share and increase taxes on things like cigarettes. Cigarettes kill you and kill everyone around you. So, if you want to smoke them, then you can pay more per cigarette. Use the extra tax money for the governments on a state level, as the tax collected would be higher in areas of where more smokers live thus creating more of a burden on a particular state health care systems. Some of the taxes can be used to help people break the habit, lowering the tax collected in the long run, but exponentially lowering health care cost.
Increase tax on alcohol; all the same reasons for smoking apply to alcohol. It kills people; people who drink it and people who don drink it. You want to roll the dice then you have to pay to play; I don mean a small tax I mean an increase of, 20-30 percent. Yeah, I hear it too. The lobbyists are screaming at the top of their lungs too bad. Smoke a cigarette and drink a beer, great but we have to raise money. A tax is better than a general tax, everyone pays their fair share of taxes, but use taxes are for the people that specifically use a certain product. I am not opposed to increasing sales taxes across the board. We need to promote savings not wasteful spending.
The wasteful spending and carefree borrowing mentality of the last 25 years is why we got here. We need to be a nation of savers. Yes, this contradicts some of what I said about increasing consumer confidence to get people spending money but that is natural, and people will spend when they feel better. What we need to do is to get people to think before they buy. Do you really need a new refrigerator, or are you better off saving for your children education. I can guarantee you that if you do the above, people will go out and spend money to stimulate the economy and they will be able to find a job.
The best of both worlds - a job and stimulus. Government, wake up! This is your wake-up call; we need stimulus from the bottom up not this high level garbage I am listening to on TV. I listen to it every day and I have no idea what they are saying. Just give me a job!
