Nope. Sorry. Bought my house for cash, and I've worked for years for pro-growth Republicans and tried to educate as many people as I could about the fact that there should be no "quasi governmental" financial entities, the FDIC and Federal pension guarantee are terrifically underfunded, and that Social Security money has all been spent and there is no "trust fund."
Politicians and bureaucrats should be allowed nowhere near our finances and the coming meltdown in Social Security is going to make the housing bubble correction (which is going to continue for years) look like one bad day in the Market. The currently despised President of the United States tried to put Social Security on the only track that could possibly salvage any part of it: privatization. He was attacked by AARP, Big Labor, the Punditocracy, and of course, Democrats.
The Franny McMay fiasco is the result of political corruption -- mostly but not exclusively -- by Democrats. Now we are compounding our failure by allowing the morons who created this mess to keep their jobs and pay off their bond-holders. People who make bad investments deserve to lose money, and people who lose other people's money deserve to get fired or be sent to prison depending on the circumstances. It's how capitalism works. Period.
We have a political party in this country that's savaged anyone -- in or out of politics -- who's tried to raise the alarm about the financial future of entitlements. Everybody knows the party that demagogues this issue; and everybody knows the party that created these "quasi-governmental" financial entities. Now I have to read in a supposedly reputable business journal how this is everybody's fault.
No. It's not.
preach it budda... while I didn’t pay cash I have a conventional 30yr community bank owned mortgage and I make 10X it’s monthly payment. Sure its austere but I save a lot so hopefully I don’t have to rely on SS or stock market performance.