Originally Posted by Blart
It makes up the difference by issuing debt. People enthusiastically purchase this debt (treasury bonds) because it's the safest investment in the world. Or at least it was.
The GOOD thing about the republicans creating a fuss is our debt WILL be less desirable to purchase and our government will have no choice to cut expenses thus limiting the need for debt ceiling increases.
I'm convinced the less the government tries to regulate and "fix" things the better off we are. Gridlock is actually a good thing.
Just got off the phone with one of the biggest real estate bankers in Colorado. In the last three years the government has thrown 208 pieces of legislation at the lenders. 208!
One of the big one's to hit is January 2014. If you own have more than 5 owner carries that you own and want to do a 6th you will have to abide by the same restrictions as the banks do. People joke about Obama being a communist but it really is heading there!
Owner carry for those who may not know is if you own a property out right and act as the bank and seller finance to the new buyer essentially holding the not and collecting payments from them.