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Originally Posted by h8kurdt
People do and should tighten their belts of they fall on hard times.
I can't afford to have a brand spanking new car or to get a loan out to buy a huge 40 inch tv. I'd like to but there's no way I could afford to pay back the loan bills and I know in this current situation many, many more people are in the same boat. Would you rather I get into more debt and risk getting turfed out of my place? It's a shitter especially when you know that the rich/poor divide is only gonna get worse.
You seem to be making out that even if someone can't afford a loan they shold take on out anyway.
As for small business loans I'm a painter and decorator by trade, but when I got laid off my last employer due to lack of work nearly a year ago I had to go on the dole. A few months later of unemployment and nobody hiring I said fuck it and decided to try and go and do it on my own.
Thing is I knew I needed a loan. It worked out I would've needed 2 grand to buy a van etc. I ended up having a meeting with my bank asking for a loan, and lo-and-behold as they have done to many more people wanting to set up a business I got denied.
If I had been approved and I had been able to build up a good steady level of customers I could've a)paid the loan back easily and b)had a hell of a lot more disposable income. As it stands I'm now in a shitty warehouse job with bare minimum level of disposable income.
I more than understand that banks and the government should be giving more help people set up businesses.
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When people are broke, its not brand new cars and 40" TVs that the are putting on debt, it is groceries, electric and phone bills, kids' clothes and school needs, etc etc..
Further and again, you are right, the government
could afford to tighten its belt, but on that bloated military and police-state spending (the local police agencies absorb between
60-80% of local revenues and have huge federal subsidies) and those greedy corporate tax loop holes
Oh.. Bush II tax cuts cost about $5 TRILLION in lost revenues, and the war(s) are $1-1.5 TRILLION (yeah, war is ugly like that, the margin for error is $500,000,000,000 not to mention), and all kinds of other silly things and what do you have? Trickle Down economics 2.0. By the way, how much does all this looking tuff and blowing shit up around the world cost the US in the past ten years?
http://www.usgovernmentspending.com/...94 .01_894.97
(the answer is $6 TRILLION on defense spending )