Your Questions About Financial Freedom Of America

Paul asks…

What do you think of Obama’s financial reforms?

One side: “It will make America a better place, bringing security to our economy!”
Other side: “Freedom-hating drivel, unconstitutional, or terrible overall.”

What do YOU think? Explain. Thanks. 😀

John answers:

Financial reforms may return us to the long period of stability (a lack of boom/bust cycles) that we gained between 1930 and the mid-90’s.

That should be the goal, and that stability was on the back of solid financial regulation that kept the finance businesses from acting in short term interest over long term stability.

I view this as a return to the pre-Clinton regulatory environment, and I have no problem with that.

George asks…

Why do people think America is the best country?

When we are lagging behind in almost everything, from education, jobs, health care/insurance, equality, crime, parenthood, family stability, etc. The only thing that I see that maybe Americans do better is the special effects in movies and the military. The other thing is that people who migrate to US are usually from poor countries and they mainly do so because of the lenient immigration policites. Also, people learn English not because they embrace American culture. They learn it to take American jobs. Do we really believe that they would learn it just because they want to be like American? Would they even learn a word if there was no financial benefit?
Andy, you brought up some good points, but I don’t really see how much of that benefits most of America? Most students do not attend Ivy League. How does Ironman being a blockbuster benefit me? How does spending billions on space flight beneficial to most of us when that money could be used on the people? What you told me is more beneficial to the rich, than most of America.

John answers:

First of all, America is a continent. If you are referring to the United States of America, then the simple answer is because people believe the US is the land for opportunity, which it is. We have freedoms granted by our government in this country, which many do not, along with opportunity for financial gain. Seems like a decent enough reason to me to want to live here.

The US is not as bad as you make it out to be. It sounds like a lot of your influence comes from the liberal media.

Thomas asks…

Take charge america???? Please answer anyone who knows about this program?

Okay so i called tca to get help with my debt. It sounds really good. Of course they only tell me the good stuff. Anyone anything about it?? Is iy bad for ur credit?? Would i really benefit??

John answers:

Take Charge America is a Consumer Credit Counseling Service (CCCS). Many consumers find resolving overwhelming debt a complicated process, and frequently attempt to evaluate and compare a variety of debt solutions that can be confusing. The options include credit counseling, debt management, debt resolution or debt settlement, bankruptcy and sometimes a debt consolidation loan. We will help you simplify the process of understanding your options, and make learning about credit counseling a little easier.

Not everyone with debt faces the same issues. Consequently, no one solution fits everyone. Working with a Consumer Credit Counseling Service (CCCS) is one possible solution or approach. Like other debt resolution techniques, it has positives and negatives. This overview discusses how credit counseling works, the debts eligible and ineligible for CCCS, its advantages and disadvantages, and costs. Other resources cover alternatives to credit counseling, CCCS scams, so-called non-profit credit counseling, and frequently asked questions about credit counseling.

Credit Counseling at a Glance
CCCS, also called credit counseling, starts by taking a broad snapshot of your financial picture. After you select a CCCS provider, you and your personal credit counselor conduct a thorough financial review, where you go over your:

Total household income
Living expenses
Financial and personal goals
As part of your financial review, your counselor helps you establish a budget. The goal is to trim unnecessary expenses where possible and allow you to live within your means. This credit counseling budgetary assistance will serve you well not only in achieving debt freedom, but also helps you establish spending and saving habits that will prevent you from falling into debt again.

Debt Management Plan
The next step is often for the counselor to propose a plan to help you realize your financial goals, use credit more wisely, and to manage your money more effectively. The credit counselor may suggest a formal Debt Management Plan that is tailored to your specific debts and aims to work out more favorable terms with your creditors. It is not required that you work with the credit counselor to set up a Debt Management Plan. You may decide that the budgetary counseling is all that you need. However, if you are struggling with debt, especially high-interest credit cards, it makes sense to see what the credit counseling service can do for you.

In a Debt Management Plan, a CCCS firm negotiates with creditors to obtain interest rate concessions. This means your monthly payment dollars go further; less of your payment goes to the interest charges and more is devoted to paying down the principal balances. In a CCCS Debt Management Plan, you stop paying your creditors directly. Instead, you send one payment to the CCCS and the service sends payments to your various creditors. You continue to receive monthly statements from your creditors, allowing you to monitor your progress with first-hand information from each creditor.

Customarily, consumers sign up for credit counseling programs to get help with high-interest rate credit cards, which are the hardest to pay off. Because a credit counseling program’s Debt Management Plan cuts your interest rates, your time to debt freedom is reduced. You are not required to enroll all unsecured debts in the credit counseling program. However, if one have more than one credit card with the same card issuer, then you must choose to enroll all or none of them. You must stop using your credit accounts that you enroll in the Debt Management Plan, but are free to use other accounts you don’t enroll.

It is a standard recommendation, however, to cease using your other accounts and even to close all but one that reserve only for emergency or for specific uses that require a credit card, such as renting a car, making a plane reservation, or booking a hotel room. Any card that is used should be paid off in full the following month. The reason it is often advised that you close all accounts, aside from a single emergency account, is that your goal in working with a credit counseling service’s Debt Management Plan is to get out of debt. Your goal of debt freedom will not be achieved, if you are running up debt on accounts not enrolled in the Debt Management Plan. Your Debt Management Plan is an opportunity to reform the way you use credit and to establish better money management habits.

John asks…

Is America really ready to give up freedom for socialism?

Will Obama really win?

John answers:

The only way America will go down, whether financial meltdown, far right/far left leadership, civil unrest, terrorist attack, is if the culture changes. Nothing today we haven’t faced before, and survived.

Donna asks…

what words describe america?

Please be positive and remember, this is a middle school project, please don’t be mean about our country.

John answers:

Stable, powerful, sheltered, Capitalist (Our financial system, which promotes relatively free trade with limited government interference), bipartisan (Two main parties- Democrat and Republican) and Freedom to Critizice or condone

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