Your Questions About Debt-free U

Carol asks…

Under which president has the U.S. been debt free?

Under which president has the U.S. been debt free or deficit free or the closest.

John answers:

The United States has NEVER been debt free.
George Washington sent John Adams to borrow money from France right from the very get-go.

Under Clinton we had a budget surplus. That doesn’t make us debt-free, it merely means that the government was earning more money in a year than it was spending.

Jenny asks…

Are U ready for the coming of another Great Depression?Are U debt free?Do U have the cash on hand to profit?

This is the fully-worded three part Q!?Are You ready for the coming of another Great Depression?Are You debt free?Do You have the cash on hand to profit from Others’ loss?
“During the great depression there was a 25% unemployment rate. We are not anywhere near those numbers.” No we are not , but back then there were few 2-income families either! Women have had to enter the workforce to pay for the higher costs of education, healthcare, housing, food, fuel, etcetera. Do U get my drift? More of us hang by threads fearing a natural or man-made catastrophe! Unions have been dis- mantled & ourmanufacturing & service jobs are being off-shored while you & I &R kids R conditioned to buy cheap goods from Walmart/ China under the rubric that the free-trade created by free trade of capital(not people) is good for us all . It’s pure baloney,honey & too many of you have been conditioned hook, line & sinker! to keep running in place like hamster’s on an exercise wheel in a white.plastic-coated cage! Capiche! Be worried bec no1 currently in power is fighting for U w/ the sole exception of OBama and Hillary, whoever wins. McCain has lost his way imitating Bush43.
Feel free to become an Ostrich, but I can’t because I know it is better to run and live another day. There is survival in unity. The propaganda from our corporations and paid for politicians is not the unifying factor. It has to come from the grass roots! not from the Washingtonians! Listen to DemocracyNow.org or freespeech radio and learn to decipher the lies and spins. Please! Please!
I do not seek to profit from the suffering of others as some do or plan!
I have a paid off my home and car and I have enough cash/money to live. Healthcare and natural crises and my dogs are my only concerns! I learned to live on half my income while I saved/invested the rest. My only real vices are I have more used books to read than I can probably read!(LOL) And I like to drink vintage red wines! Lately I have switched to generics on a part time basis! I’m 56
Clinton was a closet Republican and a hypocrite–he behaved as badly as Bush43. I am tired of Trojan Horses or Bush clones like McCain! I am al Qaeda/taliban Moslems Aland Neocons who only think about victory by military force and the death of innocents! Capiche?
I am fed up w/people who only care about themselves and nonpeaceful solutions to human problems. Those people belong in Hell torturing each other. Not here on this struggling spaceship-planet trying to survive human greed, ignorance,prejudice stupidity and narcissistic selfishness!! If it’s just a Great Depression, I’ll feel lucky and grateful!
Bush43 is the tip of an evil iceberg on the loose!

John answers:

A depression could be coming with our greedy leaders in charge. Clinton screwed up by allowing wall street to start buying securitized mortgages which made lenders more lenient. Bush just spent about everything he could to avenge his father. Gas was $1.69 before war (invasion) now it is $4.09 and rising. Or is is the cause deflected to the rise of India and China economies? Hmmmm,. Clinton also passed the 2 yr tax free capital gain crap..You knwo that will be gone since we are in a big deficit. You state taxes will rise since gas has, as well as food costs. Next is utility cost.

With more people barely making it, some people who made 50K for the last 4 years are now sleeping in their cars due to bad money management and no jobs.
Crime will increase too. It will be rough folks, our USA has to change some patterns and rise back,
will Obama do this ?
McCain is just more of the same Bush stuff a few states over.

Am I debt free no, but you can calculate when you will be debt free based on how much you pay from the source below.
Pay off your mortgage now ?
Why ?
No need for tax write offs ?

Well, I hope all gets better but most experts see this happening in 2010 at the earliest. Search for Meredith Whitney’s remarks on the housing market crisis impact.

Susan asks…

I am about to pay off a my debt. what would u suggest i do with my money in the future to stay debt free?

I am trying to find ways to save money in the future, or even places to put my money like say a cd at a bank. any help is appreciated!!!

p.s. some tidbits to my background and money amounts: single mom makes under 15,000 a year.

John answers:

Take the same amount of money you were paying on the debt you just paid off and put it in savings. You are used to making that payment so it shouldn’t make a difference in your budget. I believe the minimum amount to open a CD is $1,000 so as soon as you accumulated that amount get a CD. You can shop around on the internet for the best interest rate and double check the miminum amount needed to open a CD…….I could be wrong. You’re doing a fantastic job as a single Mom making under $15,000. Be very proud of yourself.

George asks…

When was the last time the u.s. was debt free?

John answers:

OH MY GOD! THERE WAS NO SURPLUS WHEN CLINTON WAS IN OFFICE, ONLY A REALLY DISHONEST PROJECTION WHICH OF COURSE NEVER CAME TO BE.

EVEN CLINTON NEVER SAID THE COUNTRY WAS DEBT FREE AT THAT TIME, JUST THAT THE BUDGET WOULDN’T RUN DEFICIT … BUT HE WAS WRONG … LYING … WRONG

What the heck do these guys get out of repeating total lies? It’s probably just that they believe those lies, which is pretty much what the democrat party gets over on. Without lies the democrat party wouldn’t even exist at all. That is all they live on.

Clinton left the country with an economy tanking into recession, and he started with an economy that was on the rise.

Around WWII the US was debt free for a while, even ran a surplus for a little bit.

Charles asks…

Any1 listen to Dave Ramsey? If so, have u ever called with a question or to scream I’m Debt Free?

John answers:

It is because of Dave Ramsey that we don’t have any credit card debt OR owe anything on our cars. We have an awesome emergency fund and only owe on our house. If all goes well, it will be paid for in 5 years.

This came from being $13,000 in credit card debt less than 7 years ago and owing on 2 cars and a house.

His system works.

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