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money crisis in america

is anyone nervous about the path america is going as far as job losses,housing slump and programs being cut? I wonder how much worse it's gonna get. To be honest I'm really not all that prepared.

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Asked by need2rest71 at 11:30 PM on Jan. 9, 2009 in Politics & Current Events

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Answers (17)
  • nope, I'm good. I live completely debt free. house and cars paid off. selling house #2 that's in another state also is gonna help pad the bank account.
    America would not be in this situation if people lived off of what they make and not off of their credit card limits and other debt.
    I'm 27 without a college degree, hubby is 23 with only partial college completed.

    Answer by Anonymous at 11:35 PM on Jan. 9, 2009

  • I'm not nervous. (Knock on wood). God has always provided for my family, and I work hard at my job, don't argue, and do what I'm told. My husband works in the cell phone industry, and people are always calling in for more expensive plans. It's really strange.

    You can get prepared now. You can start today, and do the best you can to spend a little less. We live without many luxuries, cable, and only now have cell phones because it was cheaper through his work to get rid of my house phone. Don't worry, just make good decisions.

    Answer by lovinangels at 11:36 PM on Jan. 9, 2009

  • I'm not worried about it. I understand it is bad right now at 7% unemployment but with Carter it was once as high as 14% in some areas. And here we are. It's a little too late to be worried about being unprepared. Gas prices went up over 3 years ago and many a newscaster was preaching it would go higher. We were all warned at least to that extent early.
    It all depends on how Obama wants to consider or reconsider his tax and spend policies and capital gains theories. All he has to do is read the history books from wall street to see a cut in capital gains taxation causes investment. Without incentive to invest, he is lost, and so goes the country.

    Answer by Anonymous at 11:37 PM on Jan. 9, 2009

  • Absolutely. I also live without debt and councel everyone to do the same. Reducing ones debt will also reduce stress. I'm afraid our economy is about to take a dive. I have family and friends who are self employed. Under the new administration, their VERY small companies are likely to go under.

    Answer by lifeasinoit at 11:37 PM on Jan. 9, 2009

  • Here is my belief... this happens every time there is an election, if you look at it. I think the whole political thing goes way beyond a President. I think he is just a "peg" so to speak. If you look at the gas prices, they go up and then when an election is near, they go way down, only to rise again after the inauguration. I think that the whole economy thing is just a ploy to get Americans in an uproar and all concerned.... It's all about the election.

    It is terrible that we live in such a society... Why can't everything be easy and not so dramatic...

    Answer by Anonymous at 11:39 PM on Jan. 9, 2009

  • i own a small home daycare, so most of my income comes from the state because my parents can't afford to pay, and guess what my state government is close to 5 billion in debt and they're saying that some nursing homes may have to shut down because they haven't received the medicare payments, schools have not been reimbursed since september. I'm taking my skills and working on plan b - a second job.

    Answer by need2rest71 at 12:02 AM on Jan. 10, 2009

  • My mom had adopted children and receives reimbursment from the state. I guess the money she is supposed to get every month is not available yet due to government debt. If this is only the beginning, I do not know how people are going to make it.

    Answer by Sis.Jackson at 12:25 AM on Jan. 10, 2009

  • Interesting. I guess adopting children is about the money. Truly sick.

    Answer by Anonymous at 1:16 AM on Jan. 10, 2009

  • Yes, the country is in crisis and it will pass. We are not any where near the type of situation that occurred in the Great Depression. When people on the stock exchange start jumping out of windows or you go to the bank and cannot take your money out like in the Depression, worry then.

    Answer by Anonymous at 1:18 AM on Jan. 10, 2009

  • anon1:16: She adopted her neice and her other siblings who were by a different man. My mom wanted to keep the whole family together. FYI

    Answer by Sis.Jackson at 1:53 AM on Jan. 10, 2009

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