Then, simply stop making payments on everything, mortgage included. Continue hoarding cash, but find a way and place to keep it so that it cannot be tracked electronically. The system is so overloaded that it will be many months and probably years before any judicial enforcement is attempted – and the courts by then will be so overwhelmed that most debts will be written off or settled for 10 cents on the dollar. Also, if she quits paying her mortgage now and proclaims hardship, this will qualify her for all of Obama’s new aid package. When push comes to shove and she has to file bankruptcy (like 20 million other americans will be doing this year) this will give her another year, at least, before she has to move and possibly under Obama’s new program a bankruptcy judge will simply write off whatever principal she doesn’t feel she can pay and set her payments and interest rates at much lower levels than today.

This is going to be life in Obama’s America – the only people who are going to come out ahead are going to be the ones who figure out how to manipulate this system to the extreme. Everyone else is going to be crushed.

Whether or not your friend follows his path, be assured that millions of other debtors are already well down this road today. This is why Bank of America and the other credit card companies are all going to fail by midsummer. Actually, they won’t fail, they’ll be nationalized in some form or manner. And then we can all pick up the tab.

She better get hers, and you need to get yours, while the getting is good. This entire system is going to blow up soon, and once it does it will be too late. We’re already over the cliff, the freefall can be kind of a giddy sensation. Don’t wait for that sudden stop at the bottom to try and do something about it.

The ultimate question is what will the military — the state National Guards as well as the Regular and Reserve forces — do in the face of a taxpayers’ revolt against government by the ‘laws don’t apply to us’ Democratic elite and the new aristocracy of the beneficiaries of all of this increased largess?

If congress, with all its wonderful ideas, can regulate how much water we can use to flush our toilets, what kind of light bulbs we are allowed to use and how we must go from analog to digital tvs, how come they can’t put a cap on the rates of interest credit card companies can charge? They seem to want to put a cap on everything else. I’ll tell you why. The lobbyists (that Obama says he won’t let into his administration) have to strong a hold on our gutless congresscritters. If this is going on all over the country, it is no wonder there is no spending. People just can’t afford to buy anything else and rasie their debt at this kind of interest rate.

In case anyone forgot, this whole mess started not with the GSEs falling but with Shumer writing an open letter in a newspaper about the bank Indy Mac tanking when it wasn’t. There was a run on Indy Mac after that so, of course, it tanked. Probably confidence in banks fell also at that time. The dems are responsible for this whole debacle from the beginning. Babbling about our economy being in a recession when it wasn’t, the Indy Mac boondoggle and the GSEs falling just in time for the election. I think they bit off more than they can chew. After all, they were going home with this mess hanging because they said they didn’t know how to fix it and are now flailing. They only know how to spend, not to recoup or otherwise tighten their belts so they are doing their thing and spending like mad. God help us with a neophyte as president and men of such greed for money and power in his administration.

The overall situation is reminiscent of France in 1788…a near-bankrupt government, a ruling class completely lacking in interests with the common man, wholesale corruption, and botched foreign policy.

A year later, the Bastille fell…and the guilliotine was erected.

This could get very ugly.

Democrats are still trusted more than Republicans to handle the economy by a 44% to 39% margin, but their advantage on the issue has been slipping steadily since November.

Thirty-nine percent (39%) of voters trust the GOP more when it comes to immigration, while 37% trust the Democrats more. A month ago, the Democrats led by seven on this issue.

Democrats continue to hold big advantages on the issues of health care, social security and education.

http://www.rasmussenreports.com/public_content/politics/mood_of_america/trust_on_issues/trust_on_issues

When the Bush tax cuts expire, what happens to the Schedule D standard deductions?

As for the Bush tax cuts, where were the pre-Bush tax rates and the Bush tax rates?