Comments about ‘Paying off debt is slower than ever in the past 29 years’

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Published: Thursday, Jan. 3 2013 11:55 a.m. MST

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patriot
Cedar Hills, UT

My wife and I decided that our #1 priority going forward is to REDUCE our debt. Cut our home loan in half or more by downsizing. After Nov 6th it was clear this country would be headed for an economic crisis which would make 2008 look like a walk in the park. I suspect we have no more than 18 months of low interest rates left and then you will see BIG rate increases due to our gigantic and growing Obama debt - 16 trillion and headed fast toward 20 trillion! Those that lend to us are going to change the lending rules ... soon ... and their rate increases will simply get passed along to us. It's like seeing a cat 5 hurricane on satellite and knowing it is headed straight for your town. Better prepare or be wiped out. This Obama-nomics is no secret. If you max out 10 credit cards you know you are headed for disaster very soon. I suspect also you will see corporations leaving your state or even moving out of the US simply because of the crushing Obama taxes and regulations soon to come. Black clouds everywhere you turn.

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