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Politics : The Castle -- Ignore unavailable to you. Want to Upgrade?

To: The Philosopher who wrote (416)	11/13/2002 2:28:28 PM
From: Neocon	Read Replies (1) \| Respond to of 7936

All that is necessary is to adopt a rule governing the percentage of the budget going to debt service under defined conditions, or tying the average growth of debt to average GDP growth, with minor exceptions, or perhaps some other formula for reasonable borrowing. If balanced budget rules can work, there is no reason that reasonable borrowing rules cannot......

To: The Philosopher who wrote (416)	11/13/2002 2:38:28 PM
From: Neocon	Read Replies (2) \| Respond to of 7936

By the way, household debt rations are calculated using monthly mortgage payments (or rental) plus: Auto Loans - (except if there is less than 9 months left to pay off) Student Loans - (except if there is less than 9 months left to pay off) Personal Loans (except if there is less than 9 months left to pay off) Charge Cards - minimum required payments only. Child Support - (except if there is less than 9 months left to pay off) Alimony - (except if there is less than 9 months left to pay off) Federal Tax Lien Repayment Schedules - (if less than 9 months not calculated) 38% of gross income is recommended, 41% is acceptable for FHA. The debt ratio for the federal government is less than 20%.