Let me be clear: When your debt far exceeds your ability to pay, it would be extremely irresponsbile to increase your line of credit.
atastrophic debt is something a reasonable person tries everything in his power to reduce, not make worse by piling even more debt on top of it.
But we're talking about Bareckless Insane Øblivious here.
Doing the most irrational, extremely irresponsible thing is always his thing.
The gross amount of goods and services our whole country produces each year is now around $15 trillion.
The total amount of debt the American public owes is around $14.5 trillion.
How, out of the already unjustifiable $2.2 trillion the
federal government Øfascist Regime annually taxes steals from our country, are we going to be able to pay down — much less pay off — all that debt?
To express this Debt Catastrophe™ in household terms, divide the above figures by 44 million:
If your annual gross income is $50,000, and you're applying for a 30-year mortgage with an annual interest rate of 4.0 percent, the most a responsible bank would reasonably be willing to lend you is $240,000. That's because your monthly mortgage payment should not exceed 28 percent of your gross income, or $1,200.
But the Bankrupter in Chief
thinks feels that having a $330,000 mortgage and $1,500 monthly payment is somehow Teh Most Responsible Thing To Do™. Even worse, His Depressionness®, Killer of Jobs, thinks feels that yes he can somehow convince anyone with an IQ higher than a brain-dead amoeba, typical Fiddy2er, or Øbamastream Mediot lackey(birm) that having an even larger mortgage and higher monthly payment is An Even More Responsible Thing To Do™™.
Worst of all, instead of reducing your $82,000 annual spending to something far less extreme, His Shovelready Joblessness tells you you should be... spending even more! That on top of fantasizing about magical increases in income that don't massacre your employer's bottom line and get you permanently and deservedly laid off.
What a Øbamoron.
President Jimmy Carter's one and only term was the height of fiscal responsibility and economic and political acumen compared to Vote-"Present" Øbungler's.
Labels: dangerously incompetent liberals (BIRM), extremely irresponsible liberals (BIRM), insane liberals (BIRM), liberals are always extreme, The Obama Depression, thieving liberals (BIRM)
Comments (registered users)
Links to this post: