Federal Government Grants Can Be Used To Help Consolidate Or Relieve Your Debt
While billions of dollars in debt relief grants wait to be awarded, millions of Americans don't even know that they may qualify for their share of these funds. These grants are designed for the specific purpose of helping people get out of debt. In today's economy, that should be a welcome relief, but too often, people don't have a clue that this money exists.
If you are looking for a home loan or college funding, you probably know that you can go to any one of several government agencies to receive these funds if you qualify. In the same token, by applying for a government debt relief grant, you could be awarded $12,000.00 or more to help you pay off your bills and get you back on the way to financial good health.
These grants are not loans. They are free monies that never need repaid. This makes them ideal for the American who has suffered a setback in these hard economic times. They are also not the same as consolidating your debt or claiming bankruptcy. These grants will help you restore your credit and at the same time, renew your ability to succeed in life.
You don't need to do a lot of hard work to even find a government grant. Perform an online search and you will be rewarded with many hundreds of links. It shouldn't be too difficult to settle upon several that may what you need.
Once you know which grants you are going to apply for, fill out the applications and send them in. Most require several pages of information and documentation, but this is information that you should have handy anyway.
Hopefully, you will be looked at favorably and before you know it, a check could be on its way to help you. Nothing feels better than the ability to pay all your bills at the end of the month and still have some cash left to save or have a dinner out. Don't waste another minute. Get started today.
Friday, September 14, 2012
New Age Frys Market
New Age Frys Market
Humans will generally be in really like with every thing nice and sweet. In fact, the way we crave for anything sugary is something inherent and inescapable. This is almost certainly the reason why people today from all ages are such candy fans. Admit it or not, we all adore candy and this is in all probability the cause why these adorable sweeties in no way go out of trend. For as extended as we're around, there will generally be candies within the world. Wholesale or retail, there will always be a marketplace for these goodies. And when it comes to satisfying that sweet tooth, retro sweets are usually on top of the list.
Whether you're talking about candy bars including Banana and Custard Nougat, Banana and Custard Nougat, Black Jacks, Black Jacks, Caramac, Curly Wurly, Fruit Salad, Frys Chocolate Cream, Frys Orange Cream, Assorted Mojos, Frys Peppermint Cream, Frys Peppermint Cream and Giant Refreshers, lollipops including Jumbo Apple Lollies, Jumbo Rhubarb and Custard Lollies, Jumbo Treacle Toffee Lollies and Jumbo Tropical Fruit Lollies or gums such as Eyepoppers, Fireball Jawbreakers, Fizzy Blue Bottles, Fizzy Vampire Teeth, Floral Gums, Fruit Gums, Fruit Gums, Fruit Salad Gums and Giant Smooth Cola Bottles or plan and uncomplicated lovable jelly beans, these old-fashioned sweets have shaped our childhood a single way or another. We've had wonderful friendships over these sweet tooth adventures and we've had such terrific memories of that local candy store that just about felt like our second home. In short, candies were and are very significantly a part of our lives and there's pretty an fascinating history behind this.
The SBA franchise registry is wonderful news for franchisors and prospective franchisees alike. Not merely does this registry supply a location for franchisors to be listed as trusted businesses which have undergone the scrutiny essential by the SBA, but it also supplies a place for potential franchisees to discover trusted franchisees and get a streamlined pathway to an SBA small organization loan. Whether you're enthusiastic about a house small business franchise or a brick and mortar retail business enterprise franchise, the SBA registry is an incredible place to commence and an incredible location to discover funding as soon as you make your choice. Here's a fast appear at 7 items you should know concerning the SBA registry and its franchises.
1. Checkers Drive-In Restaurants
One of the final remaining examples of the great American drive-in restaurant, Checkers Drive-In Restaurants give good food and quickly service for the buyers also as a powerful organization model and fast cash flow for the franchisor. If you really like a great burger and would adore to open a restaurant inside your town that's a welcome change from the usual fast-food joint, Checkers Drive-In Restaurants may be proper up your alley.
2. FiltaFry
One factor that all fast-food restaurants (as well as many others) have in popular will be the use of deep-fryers to cook every little thing from French-fries to chicken burgers. Like any piece of kitchen equipment, these fryers require to be cleaned thoroughly every single so often, but unlike most pieces of kitchen equipment, cleaning a deep fryer is typically a fairly difficult and messy job. Fortunately, FiltaFry supplies a great technique for cleaning deep fryers, all contained in a portable organization van. In addition to their niche-market advantage, FiltaFry franchisees will also benefit from a lot of repeat business, because as long as American like French frys, FiltaFry franchisees may have business.
3. AAMCO Transmissions Inc.
This human candy craze began with our prehistoric fathers stealing honey from beehives which was pretty dangerous but speedy to satisfy their sweet tooth cravings. From beehives, man started to like the sweet juices of plants like sugarcane and corn even though mixing them with water, fats, nuts and even chocolate. This ultimately laid down the bricks for all the candy varieties we know today. Then and now, man always knew what to appear for in candy which is just a sweetness regardless of the ingredients used.
Humans will generally be in really like with every thing nice and sweet. In fact, the way we crave for anything sugary is something inherent and inescapable. This is almost certainly the reason why people today from all ages are such candy fans. Admit it or not, we all adore candy and this is in all probability the cause why these adorable sweeties in no way go out of trend. For as extended as we're around, there will generally be candies within the world. Wholesale or retail, there will always be a marketplace for these goodies. And when it comes to satisfying that sweet tooth, retro sweets are usually on top of the list.
Whether you're talking about candy bars including Banana and Custard Nougat, Banana and Custard Nougat, Black Jacks, Black Jacks, Caramac, Curly Wurly, Fruit Salad, Frys Chocolate Cream, Frys Orange Cream, Assorted Mojos, Frys Peppermint Cream, Frys Peppermint Cream and Giant Refreshers, lollipops including Jumbo Apple Lollies, Jumbo Rhubarb and Custard Lollies, Jumbo Treacle Toffee Lollies and Jumbo Tropical Fruit Lollies or gums such as Eyepoppers, Fireball Jawbreakers, Fizzy Blue Bottles, Fizzy Vampire Teeth, Floral Gums, Fruit Gums, Fruit Gums, Fruit Salad Gums and Giant Smooth Cola Bottles or plan and uncomplicated lovable jelly beans, these old-fashioned sweets have shaped our childhood a single way or another. We've had wonderful friendships over these sweet tooth adventures and we've had such terrific memories of that local candy store that just about felt like our second home. In short, candies were and are very significantly a part of our lives and there's pretty an fascinating history behind this.
The SBA franchise registry is wonderful news for franchisors and prospective franchisees alike. Not merely does this registry supply a location for franchisors to be listed as trusted businesses which have undergone the scrutiny essential by the SBA, but it also supplies a place for potential franchisees to discover trusted franchisees and get a streamlined pathway to an SBA small organization loan. Whether you're enthusiastic about a house small business franchise or a brick and mortar retail business enterprise franchise, the SBA registry is an incredible place to commence and an incredible location to discover funding as soon as you make your choice. Here's a fast appear at 7 items you should know concerning the SBA registry and its franchises.
1. Checkers Drive-In Restaurants
One of the final remaining examples of the great American drive-in restaurant, Checkers Drive-In Restaurants give good food and quickly service for the buyers also as a powerful organization model and fast cash flow for the franchisor. If you really like a great burger and would adore to open a restaurant inside your town that's a welcome change from the usual fast-food joint, Checkers Drive-In Restaurants may be proper up your alley.
2. FiltaFry
One factor that all fast-food restaurants (as well as many others) have in popular will be the use of deep-fryers to cook every little thing from French-fries to chicken burgers. Like any piece of kitchen equipment, these fryers require to be cleaned thoroughly every single so often, but unlike most pieces of kitchen equipment, cleaning a deep fryer is typically a fairly difficult and messy job. Fortunately, FiltaFry supplies a great technique for cleaning deep fryers, all contained in a portable organization van. In addition to their niche-market advantage, FiltaFry franchisees will also benefit from a lot of repeat business, because as long as American like French frys, FiltaFry franchisees may have business.
3. AAMCO Transmissions Inc.
This human candy craze began with our prehistoric fathers stealing honey from beehives which was pretty dangerous but speedy to satisfy their sweet tooth cravings. From beehives, man started to like the sweet juices of plants like sugarcane and corn even though mixing them with water, fats, nuts and even chocolate. This ultimately laid down the bricks for all the candy varieties we know today. Then and now, man always knew what to appear for in candy which is just a sweetness regardless of the ingredients used.
Factoring Invoices In 2011
Factoring Invoices In 2011
Its time to debunk a myth that factoring is the financing of last resort. In reality, Factoring Invoices should be the only decision for many businesses.
For as long as I can remember my industry has been labeled as the lender of last resort. What does “last resort” mean anyway? If it means you’ve turned down the banks that are beating down your door to give you a loan or the investors that want to get in on the ground floor of your business or you’re going to self fund, then it’s a good label.
If not, then perhaps a better description for Factoring Invoices is ACCESSIBLE.
Let me start by saying that as with any type of lending, if your business is “circling the drain” NOBODY wants to finance you! Factoring Companies are no exception.
If you run a low margin business, Factoring Invoices is simply not a viable solution.
If you’re a control freak and can’t have a third party interact with your customers, Factoring Invoices is probably not a good solution either.
Miss a couple payrolls or have a supplier put you on COD and perhaps your outlook regarding Factoring Invoices will change a bit.
Why Factoring Invoices should be at the Top of your list of financing choices.
Accessibility
Factoring may be the most accessible form of funding available to perhaps one of the widest spectrum of businesses today.
Factoring Companies are highly specialized experts in collateral evaluation which gives them a tremendous amount of comfort in extending working capital to businesses that are unable to obtain “traditional credit.”
Given Factoring Companies take a unique approach to their collateral they are able to fund companies in the following situations:
• Start-ups
• Companies with Operating Losses
• Companies with negative tangible net worth
• Poor Personal Credit of Owners/Guarantors
• Rapid Growth
• Companies in Bankruptcy
• Companies in forbearance with their bank
Can you tell me another type of “traditional” financing source that would even consider one of these red flags?
Provided your business is supplying goods or services to another creditworthy business on terms, Factoring Invoices is generally available to you.
Therefore, before you go spinning your wheels down the conventional road take a reality assessment and have a candid conversation with your banker. Determine if your business is even in the ballpark of a traditional credit product. If your not, Factoring Invoices, suddenly moves to the top of your list.
Tangible Benefits of Factoring Invoices
Factoring Companies have many RESOURCES and vast experience at your disposal. Many of these resources rival those of the big boys and guess what….there available to you!
If you’re a small business owner you wear many hats, but the two most important hats are the ones that make your world go around and around. First is making good credit decisions and second is collecting payments. Without either, you’re out of business!
Credit Investigation
Factoring Companies have vast resources when it comes to evaluating another businesses creditworthiness. Many of these resources cost tens of thousands of dollars each year to subscribe to.
While almost any business can subscribe to Dun & Bradstreet or Experian are you truly qualified to effectively evaluate the information and make a GOOD decision? Credit is not an exact science and Factoring Companies have experienced credit managers and teams to evaluate the information and make an informed decision. These decisions are objective that often save businesses from catastrophic failures from a poor credit decision. Remember a sale is not a sale unless that check clears the bank!
Receivables Management
Factoring Companies are experts in the monitoring and collecting of accounts receivables.
Now, let me just clarify a couple things about most factors:
FIRST, we do not buy non-performing invoices or invoices that take longer than 90 days to pay.
SECOND, we’re not heavy handed collection companies. Most Factoring Companies have the EXACT same interests as their clients. Simply to get the invoice paid in the customers normal course of business. No need for pressure, coercion, discourse or the like.
The age old principle holds true “you get more with honey than you do a stick.” If a Factoring Company has does its job correctly and bought a quality receivable, then it should be enough to simply monitor it for the following:
• Confirm the customer is in receipt of the invoice;
• Confirm the agreed upon payment terms between the factors client and their customer;
• Ensure payment is directed to the factors lockbox
Better than half of the time with slow turning invoices a business owner is unable to ensure the customer is even in receipt of an invoice. The second trick is to ensure regular communication with a customer’s accounts payable department.
A good Factoring Company will act as an extension of it’s clients business. At my shop, we utilize a Softcall Methodology whereas we answer phones on behalf of our clients name, we do not disclose our name (unless necessary) and checks a still made payable to our clients business.
Again, the goal of most Factoring Companies is the timely payment of your customers invoice.
Factoring Companies provide comprehensive reporting to their clients. Many business owners fall short of having a competent in house bookkeeper that can provide the owner with accurate and timely information. Remember, garbage in equal’s garbage out!
Room to Grow
Factoring Invoices is one of the few sources of financing that actually grows systematically with your business without the need for timely and complex credit committees.
Provided you extend reasonable amounts of credit to creditworthy businesses, a Factoring Company can provide availability against eligible invoices within hours of a request.
Credit Insurance
Factoring Companies can provide its clients with credit insurance against non payment due to protracted default or customer insolvency. Many credit insurance policies are simply out of reach of a business due to high premiums of such coverage.
A Factoring Company can provide this valuable resource to its customers in its normal course of business at an affordable rate. This is protection that can me the difference between staying alive and closing your doors.
Piece of Mind
How does a business owner measure the piece of mind of knowing that the cash is in the account to cover payroll?
How does a business owner measure their ability to focus on areas of the business that generate sales or drive production knowing that the cash is there to support the business? Very simply, through Factoring Invoices!
Invoice Factoring is going to be a dominate form of financing for American businesses for the foreseeable future. With the credit markets forever changed, this accessible form of working capital can make itself available….even to the most vocal critics.
Its time to debunk a myth that factoring is the financing of last resort. In reality, Factoring Invoices should be the only decision for many businesses.
For as long as I can remember my industry has been labeled as the lender of last resort. What does “last resort” mean anyway? If it means you’ve turned down the banks that are beating down your door to give you a loan or the investors that want to get in on the ground floor of your business or you’re going to self fund, then it’s a good label.
If not, then perhaps a better description for Factoring Invoices is ACCESSIBLE.
Let me start by saying that as with any type of lending, if your business is “circling the drain” NOBODY wants to finance you! Factoring Companies are no exception.
If you run a low margin business, Factoring Invoices is simply not a viable solution.
If you’re a control freak and can’t have a third party interact with your customers, Factoring Invoices is probably not a good solution either.
Miss a couple payrolls or have a supplier put you on COD and perhaps your outlook regarding Factoring Invoices will change a bit.
Why Factoring Invoices should be at the Top of your list of financing choices.
Accessibility
Factoring may be the most accessible form of funding available to perhaps one of the widest spectrum of businesses today.
Factoring Companies are highly specialized experts in collateral evaluation which gives them a tremendous amount of comfort in extending working capital to businesses that are unable to obtain “traditional credit.”
Given Factoring Companies take a unique approach to their collateral they are able to fund companies in the following situations:
• Start-ups
• Companies with Operating Losses
• Companies with negative tangible net worth
• Poor Personal Credit of Owners/Guarantors
• Rapid Growth
• Companies in Bankruptcy
• Companies in forbearance with their bank
Can you tell me another type of “traditional” financing source that would even consider one of these red flags?
Provided your business is supplying goods or services to another creditworthy business on terms, Factoring Invoices is generally available to you.
Therefore, before you go spinning your wheels down the conventional road take a reality assessment and have a candid conversation with your banker. Determine if your business is even in the ballpark of a traditional credit product. If your not, Factoring Invoices, suddenly moves to the top of your list.
Tangible Benefits of Factoring Invoices
Factoring Companies have many RESOURCES and vast experience at your disposal. Many of these resources rival those of the big boys and guess what….there available to you!
If you’re a small business owner you wear many hats, but the two most important hats are the ones that make your world go around and around. First is making good credit decisions and second is collecting payments. Without either, you’re out of business!
Credit Investigation
Factoring Companies have vast resources when it comes to evaluating another businesses creditworthiness. Many of these resources cost tens of thousands of dollars each year to subscribe to.
While almost any business can subscribe to Dun & Bradstreet or Experian are you truly qualified to effectively evaluate the information and make a GOOD decision? Credit is not an exact science and Factoring Companies have experienced credit managers and teams to evaluate the information and make an informed decision. These decisions are objective that often save businesses from catastrophic failures from a poor credit decision. Remember a sale is not a sale unless that check clears the bank!
Receivables Management
Factoring Companies are experts in the monitoring and collecting of accounts receivables.
Now, let me just clarify a couple things about most factors:
FIRST, we do not buy non-performing invoices or invoices that take longer than 90 days to pay.
SECOND, we’re not heavy handed collection companies. Most Factoring Companies have the EXACT same interests as their clients. Simply to get the invoice paid in the customers normal course of business. No need for pressure, coercion, discourse or the like.
The age old principle holds true “you get more with honey than you do a stick.” If a Factoring Company has does its job correctly and bought a quality receivable, then it should be enough to simply monitor it for the following:
• Confirm the customer is in receipt of the invoice;
• Confirm the agreed upon payment terms between the factors client and their customer;
• Ensure payment is directed to the factors lockbox
Better than half of the time with slow turning invoices a business owner is unable to ensure the customer is even in receipt of an invoice. The second trick is to ensure regular communication with a customer’s accounts payable department.
A good Factoring Company will act as an extension of it’s clients business. At my shop, we utilize a Softcall Methodology whereas we answer phones on behalf of our clients name, we do not disclose our name (unless necessary) and checks a still made payable to our clients business.
Again, the goal of most Factoring Companies is the timely payment of your customers invoice.
Factoring Companies provide comprehensive reporting to their clients. Many business owners fall short of having a competent in house bookkeeper that can provide the owner with accurate and timely information. Remember, garbage in equal’s garbage out!
Room to Grow
Factoring Invoices is one of the few sources of financing that actually grows systematically with your business without the need for timely and complex credit committees.
Provided you extend reasonable amounts of credit to creditworthy businesses, a Factoring Company can provide availability against eligible invoices within hours of a request.
Credit Insurance
Factoring Companies can provide its clients with credit insurance against non payment due to protracted default or customer insolvency. Many credit insurance policies are simply out of reach of a business due to high premiums of such coverage.
A Factoring Company can provide this valuable resource to its customers in its normal course of business at an affordable rate. This is protection that can me the difference between staying alive and closing your doors.
Piece of Mind
How does a business owner measure the piece of mind of knowing that the cash is in the account to cover payroll?
How does a business owner measure their ability to focus on areas of the business that generate sales or drive production knowing that the cash is there to support the business? Very simply, through Factoring Invoices!
Invoice Factoring is going to be a dominate form of financing for American businesses for the foreseeable future. With the credit markets forever changed, this accessible form of working capital can make itself available….even to the most vocal critics.
The Government Loan Modification Program
Homeowners Rejoice! - The Government Loan Modification Program
The economic recession began its ugly reign and in 2008 it bore down on the housing market forcing it to begin flailing greatly. To combat the decline, the then Bush Administration created a government funded loan modification program. The program failed and needled to say, American homeowners were outraged and left to fight the mortgage companies for assistance.
2008 was an election year (hooray!) and the new President Obama made a move that would truly help the homeowners keep their property. His administration wrote up the Home Affordable program.
Among it was a new and improved government loan modification. The program wasn't just better dressed, it literally renovated the requirements as well as offered $75 billion to financial institutions that's intended to promote lenders in opening up loan modifications to homeowners seeking them.
The bottom line is that this government loan modification programs put the process of obtaining a modification much easier than it used to be. While the $75 billion of incentives and funding is obviously a drastic change the program offers a huge change that makes the requirements of loan modification loans more accessible.
In order to receive a loan modifications, the home that the modification was for must have retained a property value no less than 92%. The problem is that, there were only a handful of homeowner's property fit that strenuous criteria. Most homes were nowhere close to holding a value near to the purchase value. So, most homeowners were not granted loan modifications.
Unlike its predecessor, this government loan modification program serves homeowners whose property values are under the 92% mark. While it is common it is also a discerning fact that such a grand amount of properties have declined in value to 60 and in some cases 40 percent below initial purchase value. That's why this program is so revolutionary and necessary.
Let it be known that a greatly lowered property value doesn't lower the principal of the loan an modification does very little to assist in that area. Mortgages are based on face purchase values and loan modifications truly lower and change interest rates and do not affect the property value.
The economic recession began its ugly reign and in 2008 it bore down on the housing market forcing it to begin flailing greatly. To combat the decline, the then Bush Administration created a government funded loan modification program. The program failed and needled to say, American homeowners were outraged and left to fight the mortgage companies for assistance.
2008 was an election year (hooray!) and the new President Obama made a move that would truly help the homeowners keep their property. His administration wrote up the Home Affordable program.
Among it was a new and improved government loan modification. The program wasn't just better dressed, it literally renovated the requirements as well as offered $75 billion to financial institutions that's intended to promote lenders in opening up loan modifications to homeowners seeking them.
The bottom line is that this government loan modification programs put the process of obtaining a modification much easier than it used to be. While the $75 billion of incentives and funding is obviously a drastic change the program offers a huge change that makes the requirements of loan modification loans more accessible.
In order to receive a loan modifications, the home that the modification was for must have retained a property value no less than 92%. The problem is that, there were only a handful of homeowner's property fit that strenuous criteria. Most homes were nowhere close to holding a value near to the purchase value. So, most homeowners were not granted loan modifications.
Unlike its predecessor, this government loan modification program serves homeowners whose property values are under the 92% mark. While it is common it is also a discerning fact that such a grand amount of properties have declined in value to 60 and in some cases 40 percent below initial purchase value. That's why this program is so revolutionary and necessary.
Let it be known that a greatly lowered property value doesn't lower the principal of the loan an modification does very little to assist in that area. Mortgages are based on face purchase values and loan modifications truly lower and change interest rates and do not affect the property value.
Political Class Voodoo Economic
Political Class Voodoo Economic Myths And Lies - Myths #3 And #4
In the first article in this two part series we disproved two long standing myths and lies that the political class has constantly perpetuated, namely that the so-called Bush tax cuts for the rich caused all of the economic trauma and skyrocketing deficits over the past few years and that Social Security is a far better and safer retirement alternative compared to letting people invest their money for retirement the way they want to invest it. Two myths down, a two more to go.
Myth #3 - Government Spending Can Efficiently and Effectively Stimulate The Economy
The next myth that needs to be put to rest is the myth that government spending is an effective way to stimulate the economy and create real jobs. This is a timely topic as the nation continues to struggle with very high unemployment (about 10%) and sluggish economic growth. The Obama administration launched their stimulus economic program last year and some in the political class are calling for another shot of stimulus spending since we are still in the economic doldrums.
But did the first stimulus package to any good? You can obviously make the case that it did not since unemployment is still so high, with over 14 million Americans still out of work. A vast majority of the 5% or so economic (GDP) growth in the fourth quarter of 2009 can be proven to be from the temporary jolt of government stimulus, and deficit spending, spending that has resulted in no long lasting effect as economic growth has fallen off throughout 2010.
Furthermore, the Obama administration claimed in October, 2009 that the stimulus plan had created or saved 650,000 jobs. It also reported that $180 billion of the stimulus funding had been spent. If you do the simple calculation, using only Obama's numbers, you see that each of the jobs created/saved cost about $277,000 each to be created or saved. You cannot reduce unemployment through stimulus spending if it costs over a quarter million dollars to create or save one job that likely pays significantly less than that.
The sad truth that most in the political class do not understand or do not want to understand is that stimulus spending is an ineffective and inefficient way to spur the economy. It does not create jobs, it creates short term work, work that usually vanishes once the stimulus spending is gone, as illustrated by the decline in economic growth over the past year or so once the stimulus was spent. Governments cannot create wealth, they only can take wealth (via taxation) and redistribute it, usually less effectively than the free market. If that wealth had not been taken as taxes, it would have still entered the economy but would have entered the economy via individual citizens making individual choices. All the stimulus spending did was move around the money that was spent, it was not incremental spending to the economy.
A perfect counter example to this myth is what happened at the end of World War II. Consider the following information, mostly gathered from official U.S. government sources The first number is the year, the second number is Federal budget in millions of dollars, the third number is the unemployment rate and the fourth number is the GDP in billions of dollars:
1940: $9468, 14.6%,$101.4
1941:$13653, 9.9%, $126.7
1942: $35137, 4.7%, $161.9
1943: $78555, 1.9%, $198.6
1944: $91304, 1.2%, $219.8
1945: $92712, 1.9%, $223.0
1946: $55232, 3.9%, $222.2
1947: $34496, 3.9%, $244.1
1948: $29764, 3.8%, $269.1
1949: $38835, 5.9%, $267.2
1950: $42562, 5.3%, $293.7
1951: $45514, 3.3%, $339.3
Combine these facts with the facts that in 1945 there were, conservatively, about 10 million members of the armed services coming home to start civilian life and jobs (about 7% of the overall U.S. population). Did the U.S. government implement a stimulus spending program, significantly growing the deficit in order to create jobs for these returning members of the armed forces? It does not appear so from the above numbers:
- From a wartime high of about $93 billion in 1945, the Federal budget was reduced by about 40% in just one year in 1946 (from $93 billion to $55 billion)
- By 1948, just three years after the war ended, the Federal budget and spending was under $30 billion or almost 68% smaller than it was in 1945.
- However, despite these drastic cuts in Federal spending and about 7% of the population coming home to look for a job, the average unemployment rate for the six years immediately after the war was about 4.4%, a level that the Obama administration would kill for today.
- 7% of today's U.S. population equates to the creation of enough jobs for over 20 million Americans, enough to keep today's unemployment rate well under 5%.
- During the same time period, overall economic growth increased year over year for all but one year of the six years after the war and the U.S. government ran a budget surplus in four of the six years after the war (not on the chart).
Let's review what happened after World War II - despite a massive influx of new people into the economy and the draconian reduction in Federal government spending immediately after the war ended, unemployment levels stayed low, the economy grew robustly, and the Federal government enjoyed budget surpluses for several years (four out of six) immediately after the war. No stimulus programs, no Cash For Clunker disasters, no skyrocketing national debt, minimal deficit spending. All of the things that the political class is doing to day that are not working, the government in the 1940s did the opposite of and it worked beautifully.
Kind of reminds of the old Seinfeld episode where George Costanza does the exact opposite of what he has been doing because that behavior has always resulted in failure. Maybe the political class should learn a lesson from George and our analysis above: lose the myth that government stimulus spending actually works. When you start to look like George Costanza, you have a big problem, political class.
Let Americans keep most of their hard earned wealth, to spend it freely and personally how they want to spend it. They showed in the 1940s that their spending it on what they want and need is the surest way and most efficient way to grow the economy. America came out of the war a healthy, robust nation with the strongest and freest economy in the world without any government stimulus spending.
Myth #4 - We Have Skyrocketing National Debt Because The Government Does Not Collect Enough Taxes From Americans
So far we have proven that 1) the so-called Bush tax cuts for the rich were not the determining factor in the skyrocketing deficits, 2) that Social Security is really a scam and that the free market would have been a much better investment alternative for most Americans over the years, and 3) economic stimulus spending is a cruel joke that only moves money around in the economy and does not create wealth or real jobs.
The final myth to be killed in this two part series is the falsehood coming from the political class which says taxes must be raised in order to tame our deficit problem, i.e. the government has not collected enough taxes and that is what is causing the deficit to balloon. Of course, since this is a myth, nothing could be further from the truth. The basis of this fourth myth analysis is a great article at the Heritage Foundation website written by Brian M. Riedl entitled, "The Three Biggest Myths About Tax Cuts and The Budget Deficit." He frames this myth as follows: "Declining revenues are driving future deficits." In other words, in his opinion, it is a myth that the deficits are caused by the government not collecting enough taxes.
To prove this point, Mr. Riedl does a simple analysis where he takes three economic data series from 1960 to 2020 (estimated from 2010 to 2020 as proposed in current government budget documents) and divides two of the series by the third to create two ratio streams. The denominator is the country's annual GDP and the two numerator series are the amount of money that the government spent every year and the amount of money that the government collected in taxes and fees every year. From 1960 to 2009, the ratio of government spending to GDP averaged 20.3% and the ratio of government revenues to GDP was 18.0%.
The spending to GDP ratio was generally under the long term average from the 1960s to the late 1970s and from about 1985 until about 2007 and above the long term average from about 1980 to about 1984. The key point to remember is that for most of the Bush administration, the long term spending to GDP ratio was below the long term average. The revenue to GDP ratio bounced around the average of 18.0% throughout the entire period. It is expected to stay around the long term average through the year 2020.
While the revenue ratio stayed around the long term average through the past ten years or so, the spending to GDP ratio has skyrocketed since Obama took office, rising to around 25% in 2009, 2010 and 2011 (estimated) before expecting to decline to about 23% and then constantly rising until it hits an astronomical 26.5% in 2020. Thus, according to this simple ratio analysis, it is the large run up in spending, relative to the GDP of the nation, that is causing the deficits, not the fact that the government does not collect enough in taxes. That ratio has remained relatively stable for the past fifty years.
Mr. Riedl does a further analysis, determining that government spending for just Social Security, Medicare, Medicaid, and interest on our national debt will jump from about $1.6 TRILLION a year to an annual average of $3.5 TRILLION a year. Since the Federal government is currently collecting about $2.1 TRILLION in 2010 to fund the entire Federal budget, tax collections would have to increase 66% just to cover these four budget items in the next decade. Other government costs such as defense, student loans, Federal employee salaries, etc. would also have to be paid for with additional taxes.
Consider another example. Since the current Federal budget is about $3.5 TRILLION, if we keep all other expenses flat and added in the extra $1.9 TRILLION a year from the increase costs of these four line items, the total annual Federal budget would become $5.4 TRILLION. In order to keep this level of expense at the long term average of 20.3%, the U.S. economy would have to grow from its current size of about $14 TRILLION to over $26 TRILLION within a few years. This is not going to happen.
Thus, myth disproved. It is not insufficient tax collection driving the deficit, it is sky high government and political class spending driving the deficit, primarily in the four categories o Social Security, Medicare, Medicaid, and interest payments. There is not enough revenue and wealth that could be taxed out of American citizens to overcome this outlandish spending. Which makes it critical that numerous steps be implemented as soon as possible to tame the wild increase in government spending:
- Start reducing Federal government expenditures across the board by 10% a year for at least five years, using the savings to start paying down existing national and providing tax relief and a true economic stimulus to the country’s taxpayers.
- Funnel some of these expense savings into the three or four most deadly diseases facing the country today in order to reduce Medicare, Medicaid, and overall medical spending.
- Start fixing Social Security finances immediately including raising the retirement age to at least 70.
- Convene a panel of experts, a panel which excludes all politicians and lobbyists, to determine the underlying root causes of escalating health care costs in this country and implement a plan to attack these root causes, dumping the ineffective and prohibitively expensive Obama Care reform legislation.
- Implement term limits for all Congressional members in order to remove the stigma of making the hard economic decisions required to reduce government spending.
Thanks to Mr. Riedl and the Heritage Foundation for helping us destroy this myth. Now that the four myths are destroyed, it is time to start dealing with reality and start putting plans in place that might actually take reality into consideration and actually succeed in putting our economic house in order.
In the first article in this two part series we disproved two long standing myths and lies that the political class has constantly perpetuated, namely that the so-called Bush tax cuts for the rich caused all of the economic trauma and skyrocketing deficits over the past few years and that Social Security is a far better and safer retirement alternative compared to letting people invest their money for retirement the way they want to invest it. Two myths down, a two more to go.
Myth #3 - Government Spending Can Efficiently and Effectively Stimulate The Economy
The next myth that needs to be put to rest is the myth that government spending is an effective way to stimulate the economy and create real jobs. This is a timely topic as the nation continues to struggle with very high unemployment (about 10%) and sluggish economic growth. The Obama administration launched their stimulus economic program last year and some in the political class are calling for another shot of stimulus spending since we are still in the economic doldrums.
But did the first stimulus package to any good? You can obviously make the case that it did not since unemployment is still so high, with over 14 million Americans still out of work. A vast majority of the 5% or so economic (GDP) growth in the fourth quarter of 2009 can be proven to be from the temporary jolt of government stimulus, and deficit spending, spending that has resulted in no long lasting effect as economic growth has fallen off throughout 2010.
Furthermore, the Obama administration claimed in October, 2009 that the stimulus plan had created or saved 650,000 jobs. It also reported that $180 billion of the stimulus funding had been spent. If you do the simple calculation, using only Obama's numbers, you see that each of the jobs created/saved cost about $277,000 each to be created or saved. You cannot reduce unemployment through stimulus spending if it costs over a quarter million dollars to create or save one job that likely pays significantly less than that.
The sad truth that most in the political class do not understand or do not want to understand is that stimulus spending is an ineffective and inefficient way to spur the economy. It does not create jobs, it creates short term work, work that usually vanishes once the stimulus spending is gone, as illustrated by the decline in economic growth over the past year or so once the stimulus was spent. Governments cannot create wealth, they only can take wealth (via taxation) and redistribute it, usually less effectively than the free market. If that wealth had not been taken as taxes, it would have still entered the economy but would have entered the economy via individual citizens making individual choices. All the stimulus spending did was move around the money that was spent, it was not incremental spending to the economy.
A perfect counter example to this myth is what happened at the end of World War II. Consider the following information, mostly gathered from official U.S. government sources The first number is the year, the second number is Federal budget in millions of dollars, the third number is the unemployment rate and the fourth number is the GDP in billions of dollars:
1940: $9468, 14.6%,$101.4
1941:$13653, 9.9%, $126.7
1942: $35137, 4.7%, $161.9
1943: $78555, 1.9%, $198.6
1944: $91304, 1.2%, $219.8
1945: $92712, 1.9%, $223.0
1946: $55232, 3.9%, $222.2
1947: $34496, 3.9%, $244.1
1948: $29764, 3.8%, $269.1
1949: $38835, 5.9%, $267.2
1950: $42562, 5.3%, $293.7
1951: $45514, 3.3%, $339.3
Combine these facts with the facts that in 1945 there were, conservatively, about 10 million members of the armed services coming home to start civilian life and jobs (about 7% of the overall U.S. population). Did the U.S. government implement a stimulus spending program, significantly growing the deficit in order to create jobs for these returning members of the armed forces? It does not appear so from the above numbers:
- From a wartime high of about $93 billion in 1945, the Federal budget was reduced by about 40% in just one year in 1946 (from $93 billion to $55 billion)
- By 1948, just three years after the war ended, the Federal budget and spending was under $30 billion or almost 68% smaller than it was in 1945.
- However, despite these drastic cuts in Federal spending and about 7% of the population coming home to look for a job, the average unemployment rate for the six years immediately after the war was about 4.4%, a level that the Obama administration would kill for today.
- 7% of today's U.S. population equates to the creation of enough jobs for over 20 million Americans, enough to keep today's unemployment rate well under 5%.
- During the same time period, overall economic growth increased year over year for all but one year of the six years after the war and the U.S. government ran a budget surplus in four of the six years after the war (not on the chart).
Let's review what happened after World War II - despite a massive influx of new people into the economy and the draconian reduction in Federal government spending immediately after the war ended, unemployment levels stayed low, the economy grew robustly, and the Federal government enjoyed budget surpluses for several years (four out of six) immediately after the war. No stimulus programs, no Cash For Clunker disasters, no skyrocketing national debt, minimal deficit spending. All of the things that the political class is doing to day that are not working, the government in the 1940s did the opposite of and it worked beautifully.
Kind of reminds of the old Seinfeld episode where George Costanza does the exact opposite of what he has been doing because that behavior has always resulted in failure. Maybe the political class should learn a lesson from George and our analysis above: lose the myth that government stimulus spending actually works. When you start to look like George Costanza, you have a big problem, political class.
Let Americans keep most of their hard earned wealth, to spend it freely and personally how they want to spend it. They showed in the 1940s that their spending it on what they want and need is the surest way and most efficient way to grow the economy. America came out of the war a healthy, robust nation with the strongest and freest economy in the world without any government stimulus spending.
Myth #4 - We Have Skyrocketing National Debt Because The Government Does Not Collect Enough Taxes From Americans
So far we have proven that 1) the so-called Bush tax cuts for the rich were not the determining factor in the skyrocketing deficits, 2) that Social Security is really a scam and that the free market would have been a much better investment alternative for most Americans over the years, and 3) economic stimulus spending is a cruel joke that only moves money around in the economy and does not create wealth or real jobs.
The final myth to be killed in this two part series is the falsehood coming from the political class which says taxes must be raised in order to tame our deficit problem, i.e. the government has not collected enough taxes and that is what is causing the deficit to balloon. Of course, since this is a myth, nothing could be further from the truth. The basis of this fourth myth analysis is a great article at the Heritage Foundation website written by Brian M. Riedl entitled, "The Three Biggest Myths About Tax Cuts and The Budget Deficit." He frames this myth as follows: "Declining revenues are driving future deficits." In other words, in his opinion, it is a myth that the deficits are caused by the government not collecting enough taxes.
To prove this point, Mr. Riedl does a simple analysis where he takes three economic data series from 1960 to 2020 (estimated from 2010 to 2020 as proposed in current government budget documents) and divides two of the series by the third to create two ratio streams. The denominator is the country's annual GDP and the two numerator series are the amount of money that the government spent every year and the amount of money that the government collected in taxes and fees every year. From 1960 to 2009, the ratio of government spending to GDP averaged 20.3% and the ratio of government revenues to GDP was 18.0%.
The spending to GDP ratio was generally under the long term average from the 1960s to the late 1970s and from about 1985 until about 2007 and above the long term average from about 1980 to about 1984. The key point to remember is that for most of the Bush administration, the long term spending to GDP ratio was below the long term average. The revenue to GDP ratio bounced around the average of 18.0% throughout the entire period. It is expected to stay around the long term average through the year 2020.
While the revenue ratio stayed around the long term average through the past ten years or so, the spending to GDP ratio has skyrocketed since Obama took office, rising to around 25% in 2009, 2010 and 2011 (estimated) before expecting to decline to about 23% and then constantly rising until it hits an astronomical 26.5% in 2020. Thus, according to this simple ratio analysis, it is the large run up in spending, relative to the GDP of the nation, that is causing the deficits, not the fact that the government does not collect enough in taxes. That ratio has remained relatively stable for the past fifty years.
Mr. Riedl does a further analysis, determining that government spending for just Social Security, Medicare, Medicaid, and interest on our national debt will jump from about $1.6 TRILLION a year to an annual average of $3.5 TRILLION a year. Since the Federal government is currently collecting about $2.1 TRILLION in 2010 to fund the entire Federal budget, tax collections would have to increase 66% just to cover these four budget items in the next decade. Other government costs such as defense, student loans, Federal employee salaries, etc. would also have to be paid for with additional taxes.
Consider another example. Since the current Federal budget is about $3.5 TRILLION, if we keep all other expenses flat and added in the extra $1.9 TRILLION a year from the increase costs of these four line items, the total annual Federal budget would become $5.4 TRILLION. In order to keep this level of expense at the long term average of 20.3%, the U.S. economy would have to grow from its current size of about $14 TRILLION to over $26 TRILLION within a few years. This is not going to happen.
Thus, myth disproved. It is not insufficient tax collection driving the deficit, it is sky high government and political class spending driving the deficit, primarily in the four categories o Social Security, Medicare, Medicaid, and interest payments. There is not enough revenue and wealth that could be taxed out of American citizens to overcome this outlandish spending. Which makes it critical that numerous steps be implemented as soon as possible to tame the wild increase in government spending:
- Start reducing Federal government expenditures across the board by 10% a year for at least five years, using the savings to start paying down existing national and providing tax relief and a true economic stimulus to the country’s taxpayers.
- Funnel some of these expense savings into the three or four most deadly diseases facing the country today in order to reduce Medicare, Medicaid, and overall medical spending.
- Start fixing Social Security finances immediately including raising the retirement age to at least 70.
- Convene a panel of experts, a panel which excludes all politicians and lobbyists, to determine the underlying root causes of escalating health care costs in this country and implement a plan to attack these root causes, dumping the ineffective and prohibitively expensive Obama Care reform legislation.
- Implement term limits for all Congressional members in order to remove the stigma of making the hard economic decisions required to reduce government spending.
Thanks to Mr. Riedl and the Heritage Foundation for helping us destroy this myth. Now that the four myths are destroyed, it is time to start dealing with reality and start putting plans in place that might actually take reality into consideration and actually succeed in putting our economic house in order.
How To Find A Business Loan In Hawaii
How To Find A Business Loan In Hawaii
The Hawaiian government has put in place many schemes and programs for those who wish to get a business loan in Hawaii. From state funding to grants and private aid, there is no dearth of sources from which you can get a business loan.
This article discusses some of the ways to get a business loan in Hawaii.
Source of Loans in Hawaii
From banks to grants and credit insurance, you will find many sources of business loans in Hawaii. Some of them are discussed below.
1. Small Business Loan Providers
There are significant number of small business loan providers and banks available in Hawaii.
2. Guarantees
Guarantees reduce payment risks and encourage private lenders to offer loans to entrepreneurs.
3. Export Import Bank
The Export Import Bank has been set up by the US Government to finance businesses. It offers loans to entrepreneurs when the risk may be too high for private lenders.
4. Small Business Administration
The Small Business Administration (SBA) of US was created with the aim of providing guidance and financial aid to small businesses. In Hawaii, the SBA office is located in the Prince Jonah Kuhio Kalanianaole Building on Moana Boulevard in Honolulu.
5. OHA Business Loans
Native Hawaiian small business owners can approach the OHA for either the Native Hawaiian Revolving Loan Fund or the Export Import Bank funds. The former aims to encourage the growth of businesses owned by native Hawaiians.
6. Overseas Immigrants Investing Programs
This program allows non-US citizens to get a Green Card by investing in any American company. This helps small businesses in even remote areas to get financial support.
7. Hawaiian Strategic Development Corporation (HSDC)
The HSDC is working towards the development of venture capital businesses in Hawaii. The organization puts technological innovations to commercial use, and is concerned with providing employment opportunities to Hawaiians.
8. Small Business Grants
The Small Business Innovations Research program rewards useful innovations of small businesses by providing those grants. The innovations can be in fields as diverse as energy, defense, education, commerce, health and science.
9.Export Credit Insurance
Organizations like Export Import Bank offer credit insurance to entrepreneurs, and this includes small business insurance policy.
The Hawaiian government has put in place many schemes and programs for those who wish to get a business loan in Hawaii. From state funding to grants and private aid, there is no dearth of sources from which you can get a business loan.
This article discusses some of the ways to get a business loan in Hawaii.
Source of Loans in Hawaii
From banks to grants and credit insurance, you will find many sources of business loans in Hawaii. Some of them are discussed below.
1. Small Business Loan Providers
There are significant number of small business loan providers and banks available in Hawaii.
2. Guarantees
Guarantees reduce payment risks and encourage private lenders to offer loans to entrepreneurs.
3. Export Import Bank
The Export Import Bank has been set up by the US Government to finance businesses. It offers loans to entrepreneurs when the risk may be too high for private lenders.
4. Small Business Administration
The Small Business Administration (SBA) of US was created with the aim of providing guidance and financial aid to small businesses. In Hawaii, the SBA office is located in the Prince Jonah Kuhio Kalanianaole Building on Moana Boulevard in Honolulu.
5. OHA Business Loans
Native Hawaiian small business owners can approach the OHA for either the Native Hawaiian Revolving Loan Fund or the Export Import Bank funds. The former aims to encourage the growth of businesses owned by native Hawaiians.
6. Overseas Immigrants Investing Programs
This program allows non-US citizens to get a Green Card by investing in any American company. This helps small businesses in even remote areas to get financial support.
7. Hawaiian Strategic Development Corporation (HSDC)
The HSDC is working towards the development of venture capital businesses in Hawaii. The organization puts technological innovations to commercial use, and is concerned with providing employment opportunities to Hawaiians.
8. Small Business Grants
The Small Business Innovations Research program rewards useful innovations of small businesses by providing those grants. The innovations can be in fields as diverse as energy, defense, education, commerce, health and science.
9.Export Credit Insurance
Organizations like Export Import Bank offer credit insurance to entrepreneurs, and this includes small business insurance policy.
Obama Mortgage Stimulus Plan To Save Money And Your Home
Obama Mortgage Stimulus Plan To Save Money And Your Home
It is surely a great way to keep your house from foreclosure. You can save the money or you can simply save both. This is the right time and correct on people's part to take benefit of the low rates of interest and fresh refinancing options. The Obama's Making Home Affordable housing stimulus plan allows you to do exactly that. Following are few reasons suggesting why refinancing right now Obama's stimulus plan will help you.
There are a lot of homeowners who know regarding the President Obama's refinancing plan. However there are not many people who know what the program can do for them in terms of assistance. This stimulus program is premeditated to help avoid owners from doing away with their houses. Along with helping owners keep their homes, they can get better and more reasonable monthly installment for their home loan payments. All this assistance is going to be offered in the form of new mortgage refinancing options and modification options. These options are accessible to almost all the house owners. The Obama's stimulus plan is funding over $75 billion to the mortgage lenders and banks. This will help homeowners who are going through financial hardship or other stress with their upside down mortgages.
This finance will be helping the homeowners out of their financial worries. With the fund of $75 billion the mortgage rates would be kept low and also used to give incentives to the lenders and banks that enroll in this program. These incentives come with the condition that they will be provided once the mortgage refinance or the modification loan is received by the homeowner sticking to the President Obama's stimulus plan. This is the motivation given to the lenders and bankers to help the homeowners who are going through a tough time and thus offer them modification and mortgage refinancing options that would truly be able to aid them. The homeowners will get better rates of interest and lower and more affordable monthly installments. According to the stimulus plan the house owners would receive help would not be paying more than thirty one percent of his total monthly income as their installments to their lenders. Along with this the homeowners would not have to pay the closing costs and fees involved with the Obama's stimulus plan. The extra charges can cost as much as thousands of dollars and not having to pay them will make a difference in times of crisis. This comprises of all fees, associated home ownership costs and taxes. For immediate help get help from the President Obama's mortgage refinance stimulus plan.
Thus, the government has announced of a plan that can help you keep your home and get out of the debt at the same time. You save you home and money both. A mortgage expert can further assist you with determining if refinancing is right for you or not. An expert would be able to tell you more on the cost/advantage analysis. This will aid you in making an informed decision before you plunge into refinancing your home mortgage. The most competent way to obtain several quotations from lenders is by filling forms online which you will find on many websites. Make sure you fill forms on website that are affiliated with top lenders. You will be able to find a lender who you are comfortable with.
It is surely a great way to keep your house from foreclosure. You can save the money or you can simply save both. This is the right time and correct on people's part to take benefit of the low rates of interest and fresh refinancing options. The Obama's Making Home Affordable housing stimulus plan allows you to do exactly that. Following are few reasons suggesting why refinancing right now Obama's stimulus plan will help you.
There are a lot of homeowners who know regarding the President Obama's refinancing plan. However there are not many people who know what the program can do for them in terms of assistance. This stimulus program is premeditated to help avoid owners from doing away with their houses. Along with helping owners keep their homes, they can get better and more reasonable monthly installment for their home loan payments. All this assistance is going to be offered in the form of new mortgage refinancing options and modification options. These options are accessible to almost all the house owners. The Obama's stimulus plan is funding over $75 billion to the mortgage lenders and banks. This will help homeowners who are going through financial hardship or other stress with their upside down mortgages.
This finance will be helping the homeowners out of their financial worries. With the fund of $75 billion the mortgage rates would be kept low and also used to give incentives to the lenders and banks that enroll in this program. These incentives come with the condition that they will be provided once the mortgage refinance or the modification loan is received by the homeowner sticking to the President Obama's stimulus plan. This is the motivation given to the lenders and bankers to help the homeowners who are going through a tough time and thus offer them modification and mortgage refinancing options that would truly be able to aid them. The homeowners will get better rates of interest and lower and more affordable monthly installments. According to the stimulus plan the house owners would receive help would not be paying more than thirty one percent of his total monthly income as their installments to their lenders. Along with this the homeowners would not have to pay the closing costs and fees involved with the Obama's stimulus plan. The extra charges can cost as much as thousands of dollars and not having to pay them will make a difference in times of crisis. This comprises of all fees, associated home ownership costs and taxes. For immediate help get help from the President Obama's mortgage refinance stimulus plan.
Thus, the government has announced of a plan that can help you keep your home and get out of the debt at the same time. You save you home and money both. A mortgage expert can further assist you with determining if refinancing is right for you or not. An expert would be able to tell you more on the cost/advantage analysis. This will aid you in making an informed decision before you plunge into refinancing your home mortgage. The most competent way to obtain several quotations from lenders is by filling forms online which you will find on many websites. Make sure you fill forms on website that are affiliated with top lenders. You will be able to find a lender who you are comfortable with.
Saturday, September 1, 2012
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