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"Tis our true policy to steer clear of permanent
alliances with any portion of the foreign world.."
George Washington (1796)
"Commerce with all nations, alliance with none, should
be our motto."
Thomas Jefferson (1799)
"The ongoing migration of persons to the United States
in violation of our laws is a serious national problem
detrimental to the interests of the United States." -
Ronald Reagan, 1981
never grows old, and honor rejoices the heart of age. It
does so because honor is, finally, about defending those
noble and worthy things that deserve defending, even if
it comes at a high cost. In our time, that may mean
social disapproval, public scorn, hardship, persecution,
or as always, even death itself. The question remains:
What is worth defending? What is worth dying for? What
is worth living for?" -
William J. Bennett in a
lecture to the U. S. Naval Academy, Nov 24, 1997
STAR: A journey through the solar system
Seems that some people do not understand Debt the way I do. I
found these and had to repost...
What is the Debt Score?
Dave Ramsey explains it best with his description of the FICO Credit
Score or as he calls it the "I
Love Debt Score". FICO stands for Fair Isaac Company, the
company that created and computes this credit score. Although other
companies also compute credit scores, FICO is the most trusted, and
most used, score.
I am not saying that the Credit Score
has no use in this Country but Dave Ramsey's description explains a lot.
Here is a small excerpt from
Dave Ramsey's website (click for more info).
- The dreaded FICO score.
It’s that number that’s associated with every
credit report. We all know about it—most people have one—but
what does the credit score really mean?
Like it or not, your credit score is not an indicator
of winning financially. All it tells you is whether you are
good at borrowing money and paying it back. That’s it.
But let’s take a deeper look. How is your FICO score
- 35% of your score is based on your debt history.
- 30% is based on your debt level.
- 15% is based on the length of time you’ve been in debt.
- 10% is based on new debt.
- 10% is based on type of debt.
- It’s the I-Love-Debt Score:
Your FICO score is an I-love-debt score, isn’t it?
Does it factor in your income—or, even better, your
debt-to-income ratio? Nope. Does it factor in your savings
accounts, net worth—anything other than debt? Absolutely not.
The only way to have a good credit score is to go into
debt, stay in debt, and continually pay your accounts
perfectly—without adding too much debt or paying too much off.
In other words, stay in debt for as long as you can. How
ridiculous is that?
Now, if you are on Dave’s plan—paying off old debt and
not opening any new debt—then you’ll eventually reach the point
of being debt-free. At first, you’ll pay off credit cards, car
and student loans and things like that. Then, one sweet day,
you’ll finally knock off that mortgage.
After killing all that debt, your credit score will
become “indeterminable.” This is great news! By this point in
your life, you haven’t taken out a loan in years, you’ve saved a
ton of money, and you’re paying cash for everything. So you
don’t need a credit score, anyway, since you don’t plan on using
Simply put, the Credit Rating or Score is nothing more than a gauge
that ranks how well you can pay your debts. If you have a
large Debt and have the assured means to pay the payments, then you
are considered a small risk. You will have a higher score or
rating. Typically, depending on the method, individuals have a
score and an organization has a rating.
2011 National Debt Explained
- Author Unknown but this is clear. This rather
brilliantly cuts thru all the political doublespeak we get. It puts
our national debt into a much better perspective...
- Lesson # 1: Why the U.S. was downgraded:
- 2011 National Debt Summary
- U.S. Tax revenue: $2,170,000,000,000
- Fed budget: $3,820,000,000,000
- New debt: $ 1,650,000,000,000
- National debt: $14,271,000,000,000
- Recent budget cuts: $ 38,500,000,000
- Let's now remove 8 zeros and pretend it's a household budget:
- Annual family income: $21,700
- Money the family spent: $38,200
- New debt on the credit card: $16,500
- Outstanding balance on the credit card: $142,710
- Total budget cuts: $385
- Got It ?????
- Lesson # 2: Here's another way to look at the Debt Ceiling:
What if...... You come home from work and find there has been a sewer
backup in your neighborhood....and your home has sewage all the way
up to your ceilings. What do you think you should do? ...... Raise the ceilings, or pump out the crap?
Your choice is coming in every
election and there are a few every year. Educate yourself and go