Your Questions About Debt Busting

Nancy asks…

Do liberals and conservatives realize this about debt reduction?

Liberals – Conservatives will NEVER take anything you say seriously about debt reduction unless you admit social programs are out of control and need to be drastically scaled back.

Conservatives – Liberals will NEVER take anything you say seriously about debt reduction unless you admit defense spending is out of control needs to be drastically scaled back.

I see so many people talking about just one side of this while ignoring the other side. It’s intellectually dishonest, not to mention annoying.

Question: Do liberals and conservatives realize this?
Lisa – I asked a question. That’s the point of this site.
It’s sad how many of you are in denial and/or ignorant
Lisa – No, I don’t think you understand the point of Yahoo Answers. I don’t make points. I ask questions. You answer them. It’s not hard (for most people).

John answers:

I am an independent libertarian conservative.

I realize that you are correct on both counts. All of my friends are conservative, and I regularly make a concerted effort to point out the problem with the wars and defense spending. More and more conservatives are seeing this every day.

I’m sure there are liberals seeing the problem with social spending as well. I work with a lady who is liberal and has recently conceded that she is tired of able bodied people collecting all sorts of welfare even as the busts her tail working hard every day. The worse it gets the more will see it.

We would be better off if reasonable folks on both sides would quit their parties as I have done and went to a third party. The libertarian party is the logical choice.

George asks…

Is there any country in the world that ISN’T in debt?

John answers:

Saudi Arabia, and Kuwait both have positive balance sheets.
The Iranians claim they are, but they will not let anyone check their math
The Swiss? Only the gnomes know for sure, and they won’t tell

The rest of the world?
To be honest, we’re broke, busted, kaput.
But who ever said politicians were honest?

Sharon asks…

what happen to a trust fund money when its company has gone bust?

Company= incorporated trustee, e.g. Legal and general, HSBC, Fidelity, etc.

John answers:

A company trust fund would be liquidated to pay the creditors. If the trust fund is run by a person (trustee) who is having personal debt problems, the trust fund should be protected from that.

James asks…

Why is it called “going into administration” when companies go bust?

John answers:

Their management is taken over by the Debt Court, who then conduct the day-to-day administration of the business based on seeking the best return for creditors rather than the owners or shareholders….all the assets are sold off, the bills are paid, and anything left over is paid out…

Steven asks…

Survey: If you are charged for a bad thought and rewarded for every good one, would you be rich or in debt?

Rephrase: Do you have happy thoughts more than sad ones?

John answers:

Flat broke and busted

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