Why isn't Washington aiding savers?

Thank you for recognizing the issue. The low interest rates that make it easy for everyone to spend have a price. What federal policy makers are doing is robbing those who have saved so those who haven't can spend. That simple.

I watched my father's retirement shrink as the interest he planned to live on got less and less.

Greed is the governmentally sanctioned American sin.

I don't think savers complain as much. We live well within our means, put money aside for emergencies, and feel comfortable. As for people living paycheck to paycheck, maxing out their credit cards, buying more stuff they don't need, well, you just can't shut them up.

They feel like they deserve it, because why should only the wealthy get nice things? Stores don't help - try buying from any large chain without them pimping their company's credit card.

And you think the Gub'mint is going to stop the consumerism? Not when they get a chunk of it.

I'm finding "tens of millions" hard to believe.

Slimey wrote:

They feel like they deserve it, because why should only the wealthy get nice things?

That is actually true, Slimey, and one of the reasons why I push for our minimum wage to be raised MUCH higher than it is right now with prices frozen on everything in the United States for a period of 10 years, at least.

The fact is that the 'wealthy'(who are usually lazy bastards who are doing absolutely NOTHING to earn the money that they get, or have been born into wealth, again doing NOTHING to earn it) shouldn't be the only ones who can: take a vacation, afford a house that is not falling apart, have children without having to worry about how they are going to feed those children, etc.

What we really need in this country is a debate on economic justice, and the basically slave wages that are being paid to a good number of the American people.

Our people in Congress dont give a Rat's Rectum about us. I can remember when they started IRAs, the only people who could put money in them could not afford to. They made so many regulations that made them look as a bad way to save money. They made all these other retirement accounts with stringent rules. Why couldn't they just say everyone can open an retirement account and you can put this much money in it and if you take it out, you will be taxed. I could not open an account because I worked for the state so I opened a 403b and it was a great investment without all the rules of the 401s and IRAs. I borrowed out of it, paid it back. When I could not put money in, I later could put more money in as a a catch up and now I get a check every month.All these people do in Congress is see how much they can screw our lives up.

Wake up USA wrote:

All these people do in Congress is see how much they can screw our lives up.

Correction: all the Republicans do in Congress is see how much they can mess up our financial lives. The Democrats in Congress have a habit of screwing up our personal lives, by making things in them 'illegal' or 'immoral'(the Republicans sometimes help the Democrats on this and vice versa).

You are screwed with the Democrats if you are for the choices of the individual (as long as they are not physically harming others) to be respected. You are screwed with the Republicans if you expect to earn anything more than a 'slave wage' in your lifetime.

It's almost enough to make you want to SHOOT YOURSELF at times.

Lower interest on savings was a result of Reagan's deregulation of banks. Another "good" Republican idea.

Prize for word of the day:

Croupiers!

Congratulations.

Be penny wise all they want or all you want but you cannot remove from the equation the fact that Americans are being bankrupt.

I didn't say going bankrupt, I said being bankrupt, that's two different things.

...Americans are being bankrupt-ed.

That's better.

NINJA LOANS(No Income No Job or Assets) or LIAR LOANS. the gangster charged high fees to people in houses they couldn't afford. paid off washington scum turned a blind eye. JEB HENSARLING congressman from texas was on LOU DOBBS defending credit card companies loan sharking.

our professional lifetime politicians kowtow to whiners and criers, be they hill billy bible beaters to billionaire CEO's.

The stalwart middle class needs to organize and be heard

california deficit is 22.2 billion! new york is second at 4.9b. florida's is a suprising 3.4 b. governments hirings has gone up, even in the worst times like now. it looks like california, the state that speaker of the house, nancy pelosi represents, has no economic base to all their environmental laws which they mandate way ahead of economic soundness. they also could have had the most speculators in the housing market, who lied on loan applications and just walked away from homes they couldn't sell. these people are the people who want to save the earth! lol!

leo from shanghai wrote:

NINJA LOANS(No Income No Job or Assets) or LIAR LOANS. the gangster charged high fees to people in houses they couldn't afford. paid off washington scum turned a blind eye. JEB HENSARLING congressman from texas was on LOU DOBBS defending credit card companies loan sharking.

Hey no one made those idiots sign the loans. They are too blame as much as the banks in this deal.

58 per cent of treasuries is in foreign hands. mostly china. the interest has to be paid on that money. how will they get it? they seem to care about getting foreign funds than worrying about the interest rates. they want to spend, thats why they don't drill for our own resourses. they wouldn't have any saudi money to borrow. this is why! we send 700 billion out of this country for foreign oil a year. i would like to know how much is getting back here in treasuries? they are serving a government more than its citizens. produce our own oil is definitely a way out of this. like the saudi's said , oil is worth more in the ground. when the olympics are over china will allow more cars to drive, creating more demand. we will not get away from high energy prices until our politicions get a sound business mind.

Federalist Papers wrote:

<quoted text>
Hey no one made those idiots sign the loans. They are too blame as much as the banks in this deal.

I can accept stupid home buyers a whole lot faster than I can accept stupid bankers. It's a bank's business to access the risk of a loan BEFORE the loan is handed out.

If I loan money to a homeless drunk on the street corner and don't get paid back, whose's really to blame - me or him?

Coolmind wrote:

our professional lifetime politicians kowtow to whiners and criers, be they hill billy bible beaters to billionaire CEO's.
The stalwart middle class needs to organize and be heard

I absolutely agree,but they know we have no one to speak for us. Politicians are all rich and don't live on the same planet as the rest of us. Hell, McCain didn't even know what the price of gas was because he admitted he hasn't pumped his own gas in years.

Donna Atlanta GA wrote:

<quoted text>
I can accept stupid home buyers a whole lot faster than I can accept stupid bankers. It's a bank's business to access the risk of a loan BEFORE the loan is handed out.
If I loan money to a homeless drunk on the street corner and don't get paid back, whose's really to blame - me or him?

So you are equating adults who borrowed the money to "homeless drunks" ? The fact is too many Americans are lazy and want the good things without working for them. Also not everyone is meant to own a home. This situation with home loans proves this!

To ALL you whiners, there IS a solution to the dilemma in Washington. And it doesn't have Obama's OR McCain's name on it, BOTH of them equal more of the same.

Vote the incumbents out of office. EVERY damn one of them!

Reason we can borrow money from foreign governments - they encourage their people to save. Seems that since the savings and loans went tits up - savings interest has almost disappreared after our 590 billion bailout of that industry. Maybe it's time they paid us back in interest instead of taking all the money for themselves and investing it in failed real estate loans. Maybe the federal government should increase the interest rate paid on savings bonds and make them more lucrative as an investment. Would be amazing if the government actually did something to demand banks raise their saviings interest rates. Maybe we should look to the Federal Reserve and establish new return rates mandated by law when you initially get your money at sub-prime rates. How much greed is necessary before your share some of the benefits with your investors - which are the people who put their money in your bank. Think it is time for more regulation, less bailouts, and a better deal for the American people at large. And yes by the way look into credit card companies.

My friends what America needs is a real change in Washinton, we need to make the Bush tax cut permanent and even incease them, we need to further deregulate the Banking industry so the free market takes care of itself, As president I'll continue to govern with the best leadership money can buy. As my good friend Phil says its not a real resession it a bunch of whiners that are complaining Don't worry My friends, once I bomb Iran Amrica will get a boom of defence and military jobs And now we can suck Russia into the glorious WWIII all my "base" is been creaming their pants about. Remeber vote MCDummy if you want change you can count on!!!!