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Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts

Steve RhodePosted by Steve Rhode
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This information is for all the people who keep emailing me about the “secret Obama backed bailout plan for free government money to pay off credit card debts.” You win and I’ll tell all.

I’m not sure who let this rumor out of the bag but if I find them I’d have a very stern talk with them.

Maybe the problem is that while people keep reading the news about large companies getting billions of dollars in bailout money, they assume that there is free money waiting for them.

I’m the first to agree that if we want to quickly stimulate a consumer based economy to drive people back into the stores to shop, spend and buy, that paying off consumer credit card accounts is a good way in the short run to do just that.

The only similar thing I can remember is a Kuwaiti government plan to pay off consumer debts.

I hope this is the last time that I have to write about these alleged programs that do not exist. There is no free money or government money that is being given away to pay off consumer debts or credit card accounts.

The only pseudo free money available in government money would be one of the government grants that are available. Once you take a look at the available government grants that are hyped as free money you’ll see what is really available.

I’ll never say never but I would seriously doubt that the U.S. government is ever going to give away free money with no strings attached to let the average person pay off their bills. And if they do, and I’m wrong, the first round is on me.

Source: Government Handing Out Secret Bailout Money to Pay Off Credit Card Debts

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Comments

Free money is what the goverment is all about. The money is printed hot off the press each morning. In fact the goverment passed a law that the federal reserve does not have to disclose how much money it prints any more. There is one primary reason for this law and that is so the federal reserve can print as much as they want. The goverment has been requesting printed money for years and not telling the public about it. Inflation is caused by the goverment. If your interested search for “two faces of debt” on Yahoo for and article on this money making machine. The article is straight from the Chicago Federal Reserve.

EVERYONE, listen up. Don’t believe all the hype you hear from the media or sales people. This guy Allan is one of those nay sayers with his golden shovel for shoveling shit at your feet and doesn’t know how to do anything else. Look, yes the government prints money and yes too much printing can casue over inflation. Inflation IS NOT a bad thing. The cost of living goes up as there is more value. Money is simply a measuring stick of value. The more value and wealth that exists then the more money that is printed and that in turn increases the overall cost of living. There are people out there, media included that take every and any opportunity to sell air time… they are sales people. Listen, this crisis will pass but in the mean time we must ride out the storm, lower our sails so they aren’t ripped off, and ride the waves so we don’t split the hull.

Look, if you need answers don’t listen to the doomsdayers. That’s why the end of the world has been predicted every decade since the dawn of man. That’s why the holocause, spanish inquition, cottom mather and the witch hunts and the average cult got started. Stay away from these wackadoos.

Look the economy isn’t in the best of shape but we need to address the real reason for all this mess: we lost the principals this country was founded on. America was created where each man was to be treated equal (socialistic view) but must carry his own weight. We were to respect the rights of others and live in cooperation and freedome. Only today, greed, lazyness and sin have taken over our culture. People run up credit card debt on hookers, drugs, gambling and alcohol. Our culture is so materialistic that it rufused to stop buying even when we were choking ourselves in debt… you want to fix the economy??? Fix your priorities and make peace with your soul.

Monetary value in a trading transaction is a negotiated (thus subjective) property. I have something that you want, and you have something that I want and we come to an agreement as to how much of my stuff I am willing to give you for how much of your stuff. It’s a win-win.

But what if I don’t have any stuff to start out with? Well, I have me. I will agree to work for you for an agreed upon amount so I get stuff for my time and you get my labor.

Von Wrath is right when he says that greed messes things up. Slavery is when I decide that you are my stuff and I don’t have to give you anything for your labor. I just need to keep you alive and working.

There is also psychological slavery. Paying you just enough to keep someone working, but not really enough for them to get ahead.

Also, people put themselves in slavery by getting in debt. How many people keep working in a job they hate because they have to? What if you were debt free and had 6 months of living expenses in savings? Wouldn’t you feel a lot more free to change jobs? I know you would feel a lot more safe knowing that even if you lost your job, you and your family would be OK.

Traviss last blog post..This Child

To be fair about this whole situation about debt everyone should be bailed out not just banks and wall street.

Rob,

I agree.

Steve

i have a disabilaty it is disleksey were is my money from GOVERMENT!

I think you are right, the goverment needs to help the american people not the banks. I would be happy if they would demand all debt shown on a credit report be written off other then maybe your morgage.

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