The Trump economy, AKA debt up to your eyeballs

[airplanemechanic]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

 

[Toddsterpatriot]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

What is the safe level of household debt?

 

[BULLDOG]

 

[satrebil]

So stupid people are spending more money than they earn... and that's Trump's fault? How, exactly?

 

[Lumpy 1]

Give me free stuff Democrats worried about the national debt ...




.

 

[BULLDOG]

So stupid people are spending more money than they earn... and that's Trump's fault? How, exactly?

That chart is federal debt, bubba.

 

[satrebil]

So stupid people are spending more money than they earn... and that's Trump's fault? How, exactly?

That chart is federal debt, bubba.

I was responding to the OP you fucking tard. Try reading it.

 

[MarathonMike]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

Spending beyond one's means has been an American problem for decades. The FIRE movement (Financial Independence Retire Early) is gaining momentum but it seems Americans are addicted to buying stuff they don't really need. That has nothing to do with the bad Orange man, try again.

 

[depotoo]

Record-High Optimism on Personal Finances in U.S.

 

[depotoo]

Credit card debt is down . Amazing!-
3 Reasons Why Americans Are in So Much Debt
Credit card debt totaled $1.086 trillion, decreasing 2.7%. It exceeds the record of $1.02 trillion set in 2008. But credit card debt is only 26% of total debt. It was 38% of total debt in 2008.

 

[depotoo]

Home buying and car buying is up, which happens in a good economy.

 

[depotoo]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

Can’t find anything on the company that surveyed just 2700 people, other than they offer people loans. Sounds like a racket.

 

[BULLDOG]

Give me free stuff Democrats worried about the national debt ...

View attachment 306369


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A Democratic person pointed the debt out to you. The question now is do you care about it or do you want to ignore it?

 

[depotoo]

Give me free stuff Democrats worried about the national debt ...

View attachment 306369


.

A Democratic person pointed the debt out to you. The question now is do you care about it or do you want to ignore it?

Since when did you start caring about it? Nov 7, 2016.

 

[Dont Taz Me Bro]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

Yes, they are just like the people they elect

 

[Dragonlady]

Unfortunately, people are spending far more than they are making.



U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

What is the safe level of household debt?

It's based on income and monthly payments. Your monthly mortgage/rent should not exceed 25% of your gross income. If you own your home, 1/12 of your annual taxes should be included in this calculation. This is called your debt service ratio.

The total of all monthly debt service payments, including your mortgage/rent should not exceed 37% of your gross income, this would include car payments, credit card balances that aren't cleared monthly, and other consumer debt. What it doesn't include is utilities, car insurance, and other non-debt payments, so you really don't can't afford to be over that line.

I personally think that a total debt service ratio shouldn't exceed 35%. There's no wiggle room otherwise. We were right on that 37% line when bought our first house, and I found the budget was just way too tight, and there was no way to save for car repairs or other emergencies. Insurance repairs and gas for two vehicles, utilities, child care. These ratios are calculated on gross income, not net, so there's 15% withholding on top of that 38%. Half of your income is gone before you start paying for utilities, insurance, gas, child care, food and clothing.

 

[Godboy]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

This is a fair complaint and I agree with you. This will never get fixed until both sides hold their Presidents responsible for the debt.

 

[BULLDOG]

Give me free stuff Democrats worried about the national debt ...

View attachment 306369


.

A Democratic person pointed the debt out to you. The question now is do you care about it or do you want to ignore it?

Since when did you start caring about it? Nov 7, 2016.

Long before then, but when did you quit caring about it?

 

[airplanemechanic]

Unfortunately, people are spending far more than they are making.

U.S. Household Debt Exceeds $14 Trillion for the First Time

1 out of 3 people run out of money before payday. Even those making 100 grand a year!!

This can't continue. This bubble is going to burst eventually.

Nearly 1 in 3 American workers run out of money before payday—even those earning over $100,000

This is a fair complaint and I agree with you. This will never get fixed until both sides hold their Presidents responsible for the debt.

This is personal debt, not gov't debt.

 

[airplanemechanic]

Home buying and car buying is up, which happens in a good economy.

The problem is that good economies don't last forever. The economy will falter again eventually and those who outspent their means when things were good will be in a hell of a bind when things get bad. You don't spend like a drunken sailor when things are good.. You SAVE. That way when things get bad you have a cushion to try to put between your butt and potholes in the economic road. Failure to do that could result in mass bankruptcies as soon as the economy slows.

THAT'S the concern.