[UCGal]

The quibble I have with Santelli’s rant is his insistence that the floor traders are a cross sectional representation of Americans. Um, not quite.

[UCGal]

The quibble I have with Santelli’s rant is his insistence that the floor traders are a cross sectional representation of Americans. Um, not quite.

[UCGal]

The quibble I have with Santelli’s rant is his insistence that the floor traders are a cross sectional representation of Americans. Um, not quite.

[UCGal]

Despite the rumors, even with these tax increases, our taxes are lower than many New England/Mid-Atlantic states. But if you want to convince yourself we’re the highest, feel free.

I look at the state budget the same way I look at my personal budget. If I have more bills than I have income then there are two variables to adjust: Increase my income (take on a second job, for example.) Or decrease my expenses (downsize my lifestyle – eat out less, fire the housekeeper, give up luxuries like Starbucks, cancel my cable… lots of little cuts can be made.)

Sometimes the gap is too big to be overcome by just cutting costs. Certain fixed costs can’t be reduced to zero – food, shelter, healthcare… I have a moral obligation to provide basics for my children (food/shelter) and can’t reduce those expenses to zero.

So the solution is a combination. I increase my income and reduce my expenses to meet my obligations.

This budget does that. It has more $$ in cuts than it gets in tax increases. It’s not perfect, it’s not pretty… but it does get the state running again.

[UCGal]

Despite the rumors, even with these tax increases, our taxes are lower than many New England/Mid-Atlantic states. But if you want to convince yourself we’re the highest, feel free.

I look at the state budget the same way I look at my personal budget. If I have more bills than I have income then there are two variables to adjust: Increase my income (take on a second job, for example.) Or decrease my expenses (downsize my lifestyle – eat out less, fire the housekeeper, give up luxuries like Starbucks, cancel my cable… lots of little cuts can be made.)

Sometimes the gap is too big to be overcome by just cutting costs. Certain fixed costs can’t be reduced to zero – food, shelter, healthcare… I have a moral obligation to provide basics for my children (food/shelter) and can’t reduce those expenses to zero.

So the solution is a combination. I increase my income and reduce my expenses to meet my obligations.

This budget does that. It has more $$ in cuts than it gets in tax increases. It’s not perfect, it’s not pretty… but it does get the state running again.

[UCGal]

Despite the rumors, even with these tax increases, our taxes are lower than many New England/Mid-Atlantic states. But if you want to convince yourself we’re the highest, feel free.

I look at the state budget the same way I look at my personal budget. If I have more bills than I have income then there are two variables to adjust: Increase my income (take on a second job, for example.) Or decrease my expenses (downsize my lifestyle – eat out less, fire the housekeeper, give up luxuries like Starbucks, cancel my cable… lots of little cuts can be made.)

Sometimes the gap is too big to be overcome by just cutting costs. Certain fixed costs can’t be reduced to zero – food, shelter, healthcare… I have a moral obligation to provide basics for my children (food/shelter) and can’t reduce those expenses to zero.

So the solution is a combination. I increase my income and reduce my expenses to meet my obligations.

This budget does that. It has more $$ in cuts than it gets in tax increases. It’s not perfect, it’s not pretty… but it does get the state running again.

[UCGal]

Despite the rumors, even with these tax increases, our taxes are lower than many New England/Mid-Atlantic states. But if you want to convince yourself we’re the highest, feel free.

I look at the state budget the same way I look at my personal budget. If I have more bills than I have income then there are two variables to adjust: Increase my income (take on a second job, for example.) Or decrease my expenses (downsize my lifestyle – eat out less, fire the housekeeper, give up luxuries like Starbucks, cancel my cable… lots of little cuts can be made.)

Sometimes the gap is too big to be overcome by just cutting costs. Certain fixed costs can’t be reduced to zero – food, shelter, healthcare… I have a moral obligation to provide basics for my children (food/shelter) and can’t reduce those expenses to zero.

So the solution is a combination. I increase my income and reduce my expenses to meet my obligations.

This budget does that. It has more $$ in cuts than it gets in tax increases. It’s not perfect, it’s not pretty… but it does get the state running again.

[UCGal]

Despite the rumors, even with these tax increases, our taxes are lower than many New England/Mid-Atlantic states. But if you want to convince yourself we’re the highest, feel free.

I look at the state budget the same way I look at my personal budget. If I have more bills than I have income then there are two variables to adjust: Increase my income (take on a second job, for example.) Or decrease my expenses (downsize my lifestyle – eat out less, fire the housekeeper, give up luxuries like Starbucks, cancel my cable… lots of little cuts can be made.)

Sometimes the gap is too big to be overcome by just cutting costs. Certain fixed costs can’t be reduced to zero – food, shelter, healthcare… I have a moral obligation to provide basics for my children (food/shelter) and can’t reduce those expenses to zero.

So the solution is a combination. I increase my income and reduce my expenses to meet my obligations.

This budget does that. It has more $$ in cuts than it gets in tax increases. It’s not perfect, it’s not pretty… but it does get the state running again.

[UCGal]

[quote=socrattt]I am puzzled why gold or silver isn’t mentioned here.[/quote]

I think it’s because the OP says:
With the one criteria that the funds be kept safe, what are your suggestions?

That implies principal protection is a key goal. While you may be right about the growth potential for your investment choices… you might be wrong also.

Hence the suggestions for FDIC insured funds.

[UCGal]

[quote=socrattt]I am puzzled why gold or silver isn’t mentioned here.[/quote]

I think it’s because the OP says:
With the one criteria that the funds be kept safe, what are your suggestions?

That implies principal protection is a key goal. While you may be right about the growth potential for your investment choices… you might be wrong also.

Hence the suggestions for FDIC insured funds.

[UCGal]

[quote=socrattt]I am puzzled why gold or silver isn’t mentioned here.[/quote]

I think it’s because the OP says:
With the one criteria that the funds be kept safe, what are your suggestions?

That implies principal protection is a key goal. While you may be right about the growth potential for your investment choices… you might be wrong also.

Hence the suggestions for FDIC insured funds.

[UCGal]

[quote=socrattt]I am puzzled why gold or silver isn’t mentioned here.[/quote]

I think it’s because the OP says:
With the one criteria that the funds be kept safe, what are your suggestions?

That implies principal protection is a key goal. While you may be right about the growth potential for your investment choices… you might be wrong also.

Hence the suggestions for FDIC insured funds.

[UCGal]

[quote=socrattt]I am puzzled why gold or silver isn’t mentioned here.[/quote]

I think it’s because the OP says:
With the one criteria that the funds be kept safe, what are your suggestions?

That implies principal protection is a key goal. While you may be right about the growth potential for your investment choices… you might be wrong also.

Hence the suggestions for FDIC insured funds.

[UCGal]

[quote=scaredycat]1,000,000 at 3% interest yields 33,000. nursing home insurance = 10k a year?

prescriptions.

a movie once ina while. [/quote]

Just a note on long term care insurance… It typically has a “lifespan” of 3-5 years. (Rates higher for the longer coverage.) If you live longer than the coverage – then… Oh well…

This can be a significant issue for someone with a debilitating, but potentially long term condition. Alzheimers comes to mind.

A coworker’s mom is in a nursing home with alzheimers. She’s only got 9 months left on her coverage. After that, whatever cash she has will go to cover the $10k/month rent.

My brother in law’s mom is in assisted living here in San Diego. She waited to start the coverage – even though she NEEDED it – because she didn’t want to outlive the coverage and be forced to move to a crappier place.

Long term care is expensive. Insurance for it is not unlimited.

As I said in my previous post – I’ve got a lot of experience with this because of my parents, my husbands parents, and various relatives parents.

Don’t spend your parent’s money because they may need it.

And it doesn’t sound like a great investment.

[UCGal]

[quote=scaredycat]1,000,000 at 3% interest yields 33,000. nursing home insurance = 10k a year?

prescriptions.

a movie once ina while. [/quote]

Just a note on long term care insurance… It typically has a “lifespan” of 3-5 years. (Rates higher for the longer coverage.) If you live longer than the coverage – then… Oh well…

This can be a significant issue for someone with a debilitating, but potentially long term condition. Alzheimers comes to mind.

A coworker’s mom is in a nursing home with alzheimers. She’s only got 9 months left on her coverage. After that, whatever cash she has will go to cover the $10k/month rent.

My brother in law’s mom is in assisted living here in San Diego. She waited to start the coverage – even though she NEEDED it – because she didn’t want to outlive the coverage and be forced to move to a crappier place.

Long term care is expensive. Insurance for it is not unlimited.

As I said in my previous post – I’ve got a lot of experience with this because of my parents, my husbands parents, and various relatives parents.

Don’t spend your parent’s money because they may need it.

And it doesn’t sound like a great investment.

[Author]

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