No Wonder I Feel Poorer
These original Kirt's Cogitations™
may be reproduced (no more than 5, please) provided proper credit is given to me, Kirt
– noun: Concerted thought or reflection; meditation; contemplation.
Kirt [kert] – proper noun: RF Cafe webmaster.
Standard of Living Committee, more federal taxes were taken from citizens
than the growth of personal income. From 2000-2001, GPI grew by $279.5
billion, while federal tax revenues grew by $298.6 billion. The consumer
taking on more debt makes up the difference. American consumers' willingness
to go deeper into debt to fund housing purchases or borrow equity out
of their homes to finance consumption came to the rescue. According
to the National Mortgage News, residential originators funded a record
breaking $729 billion in home mortgages in 02Q3 and are set to come
close to $2.5 trillion in 2002. This surpasses last year’s record of