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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (155671)	6/25/2001 4:47:48 PM
From: CYBERKEN	Read Replies (1) \| Respond to of 769670

You just proved you're economic ignorance. It really doesn't work that way, and to think it does can create 1930's-style ruin. Unfortunately there are many in Congress who are as stone-faced ignorant as yourself...

To: Scumbria who wrote (155671)	6/25/2001 6:12:18 PM
From: Ish	Respond to of 769670

<<Try telling your mortgage holder that you are ceasing to make equity payments, and will simply "outgrow your mortgage".>> The idea is that like the guy who bought a house in say 1960, made a large a month and paid a mortgage of $200 a month. In 1980 he's making $4 large a month and paying a note of $200 a month @5%. Cheaper to pay it like the electric bill than to pay it off. My first house '76 I took out a $27k loan. In '79 I had a Jumbo CD paying 21%. Same bank. They called and explained about all the interest I could save by paying it off early. I didn't bite then either.