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DEBT

IdahoboundIdahobound Member Posts: 20,587 ✭✭✭
edited June 2008 in General Discussion
the USA national debt is 106% of the gross domestic product and expected to surpass $30 TRILLION in another 10 years...only once has one of the 4 banks i have business with has ever allowed me to assume a precarious position ...because an opportunity next door came up privately to purchase irrigated and dryland acreages...i did and paid it off fully in 5 years....by careful management...and the last years of farming and retirement have deen debt free...but govt seems to be going in just one direction...deeper and deeper...govt debt interest payment equals about 7% of the federal budget and expected to triple in 10 years...obama increased the debt by 68%...demos and repubs BOTH enjoy blowing our money
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  • IdahoboundIdahobound Member Posts: 20,587 ✭✭✭
    edited November -1
    If you could sell all of your guns and be 100% debt free would you?? I am young and have only been in my house for a couple of years so if my collection woud pay it all off I would but knowing that it would maybe pay off a 10th of it I will just live being in debt. How about you would you sell.
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  • savage170savage170 Member Posts: 37,572 ✭✭✭✭
    edited November -1
    Nope after this election may not be able to replace them
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  • tazzertazzer Member Posts: 16,837
    edited November -1
    i could sell off all of them and be debt free but I have worked to hard to get them and a lot mean something to me and i would never sell them unless my faimly needed me to
    as for as debt goes im inn for about 35 grand so ill just keep paying it down and should be debt free in 1.5 years then bam its house building time [:0][B)][xx(] oh well got to keep momma happy [:D]
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  • IdahoboundIdahobound Member Posts: 20,587 ✭✭✭
    edited November -1
    quote:Originally posted by tazzer
    i could sell off all of them and be debt free but I have worked to hard to get them and a lot mean something to me and i would never sell them unless my faimly needed me to
    as for as debt goes im inn for about 35 grand so ill just keep paying it down and should be debt free in 1.5 years then bam its house building time [:0][B)][xx(] oh well got to keep momma happy [:D]


    You have my dream house now
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  • tazzertazzer Member Posts: 16,837
    edited November -1
    You have my dream house now
    [/quote]

    mine to but not springs or the kids [B)][V]
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  • FrancFFrancF Member Posts: 35,279 ✭✭✭
    edited November -1
    That would be an Oxymoron here
    quote: If you could sell all of your guns and be 100% debt free

    The cycle would just start over[:D]
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  • IdahoboundIdahobound Member Posts: 20,587 ✭✭✭
    edited November -1
    quote:Originally posted by FrancF
    That would be an Oxymoron here
    quote: If you could sell all of your guns and be 100% debt free

    The cycle would just start over[:D]


    true
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  • William81William81 Member Posts: 25,489 ✭✭✭✭
    edited November -1
    Nope....plan in place, house will be paid off the year my youngest son finishes college. Then it will be time to sell the house and retire.
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  • Hunter MagHunter Mag Member Posts: 6,610 ✭✭✭
    edited November -1
    My guns wouldn't even come close to paying off my house. [:(]
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  • 11b6r11b6r Member Posts: 16,584 ✭✭✭
    edited November -1
    Guns will get you thru times of no money better than money will get you thru times of no guns![:p]
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  • txlawdogtxlawdog Member Posts: 10,039 ✭✭
    edited November -1
    Guns are bad, I don't even own any. I had a sling shot once, but i sold it on Fleabay.
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  • steeltoe1978steeltoe1978 Member Posts: 3,248
    edited November -1
    No.
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  • dtknowlesdtknowles Member Posts: 810 ✭✭✭✭
    edited November -1
    I maybe have $10K in guns and owe $70k on the house. I could probably scrape together the $70k to pay off the house but then would be cash poor. House note is 5.25 percent 15 year fixed so principal is coming down fast, may pay it off early but I like having the cash and the guns and some other things of value, never know when you might need them. Credit cards go to zero every month and the cars are paid off, so are all other loans. if it weren't such a hassle I would sell or trade a lot of my guns and get different ones.
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  • Hunter MagHunter Mag Member Posts: 6,610 ✭✭✭
    edited November -1
    If you pay off the house early/now your $$$ will recoupe fast without the payment anymore.[:p]
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  • non mortuusnon mortuus Member Posts: 649 ✭✭✭✭
    edited November -1
    No.
    1. Being completely gunless scares the hell out of me.
    2. Might be hard to find suitable replacements for a one or two(by which I mean same condition, and not 3x+ price)
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  • bingeebobbingeebob Member Posts: 1,185 ✭✭✭✭✭
    edited November -1
    NO

    well, YOU shoulden't, I did, and regret it.

    I sold every single one, other than the few I inherited.

    there are other ways to pay off bills
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  • bartobarto Member Posts: 4,734 ✭✭
    edited November -1
    Been debt free since 79 and collecting guns since 62 so I guess the answer would be a resounding NO!
    [^]barto[^]
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  • bgjohnbgjohn Member Posts: 2,275 ✭✭✭✭✭
    edited November -1
    What is debt? If you are in it get out of it.
    JM[:)]
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  • chollagardenschollagardens Member Posts: 4,614 ✭✭✭
    edited November -1
    No.
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  • pickenuppickenup Member Posts: 22,844 ✭✭✭✭
    edited November -1
    I wish I had some guns.

    To answer your question.
    No.
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  • TfloggerTflogger Member Posts: 3,399 ✭✭✭✭
    edited November -1
    I sold all of mine to pay off my debts. I just come here for the awesome wit and wisdom.
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