Debt
Consolidate or bear debt woes
Many of you in the country are faced with debt troubles. In majority of the cases, mindless usage of multiple credit cards is held responsible for this financial mess. However, as soon as you realize that you are into debts, you need to resort to appropriate debt elimination strategy. One excellent way to get out of this financial ordeal is to opt for debt consolidation program. This is an excellent financial arrangement which combines all your unsecured debts into a single big debt and you are then required to make single monthly payment for a certain period of time so as to finally become free of debts. One positive feature of this program is that it does not affect your credit score negatively. Instead, if you make the monthly repayment amount on a regular basis, your credit score is actually increased.
In the first step of debt consolidation program, you are required to find a genuine consolidation company. This is very important because if for some unfortunate reasons you get trapped in the hands of an unethical consolidation company, your debt elimination endeavors get aborted. So, before selecting your consolidation company, you need to check its status with Better Business Bureau (BBB). If the consolidation company has clean report with BBB, you can be very much assured about its genuineness.
The consolidation company then analyzes your financial condition thoroughly and it also offers free counseling session to you. In the next step, the consolidation company engages in discussions with your creditors so as to decide upon your single monthly payment amount. This single monthly payment amount is less than what you were paying in a month in total to your multiple creditors, before opting for debt consolidation program.
You are then required to make the single monthly amount to the consolidation company. The company is then responsible for distributing the amount to your creditors. By paying the monthly amount for a certain period of time, you finally become free of debts. If you pay more than the minimum single monthly payment amount, you get rid of debt at a faster rate.
Remy: Raise The Debt Ceiling Rap
We may not be able to address our current debt ceiling woes, but we can at least put them to a good beat.
Visit the links below for more Reason coverage on the debt, deficit and government spending:
Five Facts About the Debt
http://reason.com/archives/2011/07/25/five-facts-about-the-debt
The Facts About the debt Ceiling
http://reason.com/archives/2011/07/18/the-facts-about-the-debt-ceili
Reason.com Topics: Government Spending
http://reason.com/topics/goverment-spending
“Raise the Debt Ceiling” is the third of a series of collaborations between Remy and Reason.tv. To watch Remy’s other videos, go to http:youtube.com/goremy
Music by Remy. Video shot and produced by Meredith Bragg.
Download the mp3 and HD versions at http://reason.tv, the video channel for Reason magazine and http://reason.com
LYRICS:
Raise da debt ceiling!
Raise da debt ceiling!
Raise da debt ceiling!
Raise da debt ceiling!
14 trillion in debt
but yo we ain’t got no qualms
droppin $100 bills
and million dollar bombs
spending money we don’t have
that’s the name of the game
they call me cumulo nimbus
because you KNOW I make it rain
bail out all kind of cars
got all kind of whips
ladies ask me how I get em
I tell em STIMULUS
Social Security surplus?
Oh, guess what? it’s gone
I got my hands on everything
like Dominique Strauss Kahn
ain’t got no Medicare trust fund
son, that’s just absurd
spending every single penny that
we see, son, have you heard?
ain’t got no moral objections
ain’t got kind of complaints
ain’t got no quantitative
statutory budget restraints
so…
[CHORUS]
Yo, we up in the Fed
and we living in style
Spending lots of money
while we sipping crystal
still making it rain
and yeah it be so pleasing
wait, not making it rain–
we be “Quantitative Easing!”
QE1, QE2
QE4, QE3
Dropping IOU’s
in every fund that I see
printing the cash
inflating the monies
callin up China
“a-yo we straight out of 20′s!”
in the club
we be louding out
while to the market, yeah
we be crowding out
on the beach getting tan
and sipping Corona
we got a monetary plan–
and it involves a lot of toner…
[CHORUS]
So if you look at the chart
and examine the trend
we borrow 40 cents of every
single dollar we spend
and non-discretionary spending
increases every day
do you have a comment for Committee?
I MAKE IT RAIN
Mr. Speaker, Mr. Speaker
would you beam me up?
A Congressperson cutting spending?
Couldn’t dream me up
We’re gonna default
if we follow this road!
I should have thought of this
14 trillion dollars ago!
I’m the king of the links
I’m a menace at tennis
I’m sticking spinnaz on my rims
picking winnaz in business
if you’re looking for some cash
it’s about to get heavy
I got some big ol’ piles of money
and guess what–they shovel ready
[CHORUS]
Duration : 0:2:21
Watch President Obama’s Full News Conference on Debt Talks’ Latest Breakdown
More on the talks: http://to.pbs.org/orqI21
President Obama said in a Friday evening news conference that he will call leaders to the White House for a Saturday morning meeting, shortly after House Speaker John Boehner walked away from debt negotiations.
Duration : 0:31:8
Pawlenty on Debt-Ceiling Talks: Political Capital With Al Hunt
July 16 (Bloomberg) — Republican presidential candidate Tim Pawlenty talks with Bloomberg’s Al Hunt about negotiations between lawmakers over raising the U.S. debt limit and Senate Republican leader Mitch McConnell’s plan to raise the ceiling.
Bloomberg’s Heidi Przybyla and Julianna Goldman discuss the outlook for the debt-limit talks. Lizzie O’Leary reports on how the government may prioritize payments if the debt-ceiling isn’t raised. Commentators Margaret Carlson and Kate O’Beirne talk about the possibility that a debt agreement won’t be reached and the U.S. will default on its debt. (Source: Bloomberg)
Duration : 0:21:27
What It Means: the Debt Ceiling and You
If you think the last few days have been tumultuous for markets, just watch as August 2 approaches. The United States faces a trove of issues if the debt ceiling isn’t raised. (July 13)
Duration : 0:2:52
The size of Greece’s debt
The Greek public debt is forecast to hit more than $500bn.
Meanwhile, plans for a second bailout for the country are being discussed by senior EU ministers.
Al Jazeera’s Gerald Tan takes a look at the actual size of Greece’s debt.
Duration : 0:1:23
Shoot the messenger: EU blames debt panic on rating agencies
Unjustifed and unfair … but with the power to determine the fate of entire countries. That’s the verdict of Germany’s Finance Minister on the world’s big three credit rating agencies after Portugal had it’s debt downgraded to junk status. The move is having a disastrous effect on the EU – ripping apart the relative calm brought by a second Greek bailout. The panic is proving contagious, with fresh fears emerging that Ireland may also need another cash-injection. It comes as Germany, the EU’s biggest economy, debates the very legality of the bailouts. But the only fault of the ratings agencies is that they didn’t downgrade Portugal and Greece any sooner – that’s according to writer and editor Patrick Young.
Duration : 0:5:13
Nogueira Says Portugal Can Return to Debt Market in 2013
July 6 (Bloomberg) — Antonio Nogueira Leite, an economic adviser for Portugal’s Social Democratic Party, talks about Moody’s Investors Service’s decision yesterday to cut Portugal’s credit rating to junk.
He speaks from Lisbon with Francine Lacqua and Owen Thomas on Bloomberg Television’s “Countdown.” (Source: Bloomberg)
Duration : 0:8:5
Obama Set to Take Over Stalled Debt Talks
Can both sides come to an agreement? Rep. Blackburn weighs in
Duration : 0:5:23
Greece begins sell-off to counter debt crisis
Greece’s ruling socialist party has passed a second austerity bill needed to implement an austerity package to secure more funds from the European Union and the International Monetary Fund.
The vote saw 155 members of parliament voting in favour of the bill, 136 voting against and five abstentions.
The Greek government will now start to implement harsh cuts, but it also has plans to make money – many of which are proving to be controversial.
Athens wants to raise $72bn in the next four years by selling off state assets.
The state lottery, water companies, electricity and gas monopolies are among those up for grabs. Also for sale are leases on state property and property for tourist development.
Tania Page reports from Athens, the Greek capital.
Duration : 0:2:16
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