Comments about ‘One in four Americans has more credit card debt than savings as House Dems cap rates’

** Study: Rich get a lot richer, outpace middle class' - By Andrew Taylor - AP - 10/26/11

The study comes from the Congressional Budget Office and is based on IRS and Census Bureau data.
It finds that after-tax income for the top 1 percent of U.S. households almost tripled, up 275 percent, from 1979 to 2007. For people in the middle of the economic scale, after-tax income grew by just 40 percent. - Article

The 15% cap is being proposed by a democrat in the House which is completely run by GOP representatives. I will be surprised if it even comes up for a vote. There is no way on Earth the GOP will support capping interest rates on credit cards. They will see this as too much government regulation and go back to "important" discussions like banning gay marriage, birth control, pre-natal screenings, and abortion. The economy is the last thing the GOP wants to discuss.

Re: Pagan | 10:16 a.m. Feb. 21, 2012

People who understand interest earn it while those who don't pay it. It was Michael Jackson who proved that you can always spend more money than you earn ..... if you really work at it.

We have friends who have become experienced bankruptcy experts. They do quite well with vacations, cars, decorating, eating out, clothes, etc. They plan out how to get the most stuff/experiences between bankruptcies. It has worked out great for them.

hope n change!!

It was Michael Jackson who proved that you can always spend more money than you earn ..... if you really work at it. - Rifleman | 11:05 a.m. Feb. 21, 2012

So did George W. Bush.

Who took a surplus, squandered it...

and doubled the national debt.

Michael Jackson, Ted Kennedy...

Rifleman, do you ever bring up people who are alive?

Or only insult people who are dead and cannot defend themselves?

Trump filed bankrupcy...

** Donald Trump's Companies Filed for Bankruptcy 4 Times' - By AMY BINGHAM - ABC News - 04/21/2011

Does he 'undertstand interest'?

Search the phrase "portent of stormy weather ahead" and read the words of a prophet. I am so thankful for President Hinckley's counsel. My family was young when we heard that counsel, but we have labored to heed it, and we have paid off private school loans, auto loans, and over half our mortgage on our modest home. We have zero consumer debt. Financial independence is our goal, and with careful planning, discipline and the blessings of being a full-tithe payer, we are optimistic that we will get there.

@Pagan
"Rifleman, do you ever bring up people who are alive?"

Well, I'll bring up someone who is alive and has squandered plenty. His name is Barack Obama.

Belching Cow | 1:41 p.m. Feb. 21, 2012,

Bush doubled the national debt.

Obama, has not.

Who spent more...?

@Pagan
Bush doubled the national debt in 8 years. Obama has increased it in 3 years an amount larger than Bush's most expensive 3 years factoring in inflation. I like Obama and will vote for him again, but the facts (with appropriate context) aren't on your side of that argument.

It's time we got past our fear of regulation and started to reign lenders of all kinds in.

Hutterite.

Its time we got past looking to big government to think for us. We cowboy up and actually learn how to spend less than we make.

Guilty!

And getting out of debt has been a major pain... with more pain to come...

Re: Pagan | 11:36 a.m. Feb. 21, 2012
"Rifleman, do you ever bring up people who are alive?"

Did my comment strike a nerve? Let me rephrase it: You can always spend more money than you earn ..... if you really work at it. Just look at the mountain of debt California is drowning in ($40,000 million).

People that don't understand interest pay it while those who understand interest earn it.

Hutterite.

Its time we got past looking to big government to think for us. We cowboy up and actually learn how to spend less than we make.