So far the Federal Government has spent trillions of dollars since 2008 bailing out the Banks and Propping up the Stock Market. Very little has been done to help most Americans who are struggling due to massive debt problems. If the Federal Government doesn't wake up soon and pull its head out of its butt the US is going to really go off the cliff. My proposal to the butt heads in Congress is to get American's out of debt as soon as possible before the Economic Collapse occurs.
1. All Families will be entitled to Debt Relief up to $100,000 to pay off student loans, pay down mortgages, credit cards and etc.
2. Single People get up to $50,000 in Debt Relief to pay off student loans, credit cards and etc.
3. All people who enter into the Debt Relief Plan will not be able to have more than "2" Credit Cards that have a total credit limit more than $2000.
4. Also any new loans (car, mortgage and etc) will have strict guidelines so they won't get into trouble again.
Now for those that don't have Debt Problems.
1. You will not have to pay any Federal Tax up to a $50,000 Limit.
This is a one time deal and will be based on Debt Obligations ending in 2012. Any new debt after 2012 will not be available for this Debt Reduction Plan.
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