Ok so here are a few things Obama wants to do for America. I see little help and no jobs here. Fact is most of these are geared towards specific people and may save a few money but not enough to increase spending or create jobs. These are more feel good suggestions that will, in the end just cost us money.
Raising the child care tax credit will net people with young kids in child care a bit more money at tax time but won't cause Americans to have more in their checks to spend. Federal funding for child care programs is a small drop in the bucket but unless you receive aid already probably won't do you any good. Capping Student loans at 10% of a persons income will please those paying off loans but what is a "basic living allowance"? I guess the government will decide that for us. All of this tacked on to the new budget.
Answer by waldorfmom at 1:32 PM on Jan. 25, 2010
Answer by tnmomofive at 1:35 PM on Jan. 25, 2010
While I absolutely agree with both of you, I am actually shocked to see that there is something that he is going to do that may actually help us big time. DH and I have combined student loans of over $160,000. If we were able to make the real student loan payments, they would be almost twice what our mortgage is. Because we can't afford to make that payment, we defer or do interest only payments which do nothing for actually bringing down the principle and often times makes it go up. My big question is, if they are going to cap the payments, are they going to bring down the interest rates as well so the capped payments actually pay on the principle? I doubt it.
Answer by Anonymous at 2:52 PM on Jan. 25, 2010
Answer by 29again at 5:09 PM on Jan. 25, 2010
Answer by 29again at 5:14 PM on Jan. 25, 2010
Answer by tnmomofive at 5:25 PM on Jan. 25, 2010
Next question overall
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