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160th Carnival Of Debt Reduction – Bailout Edition

by The Happy Rock on October 6, 2008

Welcome to the 160th Carnival of Debt Reduction.

This particular collection of posts related to debt reduction is dedicated to $700 billion bailout plan passed by the US government.  The dedication isn’t because the bill is a great piece of government action, because in reality it is an example of bill bloat, earmarks, and the government’s willingness to go into debt for us while taking more power away from us.  I say to heck with the bailout, let’s focus on being responsible for ourselves and use these posts to help bail ourselves out. In these rocky financial times it is even more important that you are in complete control of your money not banks and creditors.

Editor’s Top Picks

NCN writes How I Live Without Borrowing Money

FMF writes about Seven Brainless Borrowing Behaviors

FWP writes about Our new-to-us used truck (or, why pay $26k when you can pay $4k instead?)

PT writes about his Debt Target Update: September 2008

Other Posts

The Passive Dad writes $1500 Reduction In Property Tax. Help Your Friends And Neighbors Save Money

Michael writes about Consumer Debt Worst Offenders: Banks, Advertisers, and Advisors

The Smarter Wallet writes Think Before You Buy! 5 Basic Shopping Tips To Live By

Mr Credit Card writes about Credit Repair Tricks: Using CD?s and Personal Loans to Raise Your Credit Score

Cash Money Life writes Free Credit Score From Equifax – Limited Time Only

Kelly Tolman writes 5 Ways to Keep Your Credit Good In Hard Financial Times

Andy writes Announcing America’s Ten Trillion Dollar National Debt

J. Money writes When you overdraw your checking account does that effect credit??

Silicon Valley Blogger writes Save Money When Buying Those Cool Electronics and Gadgets You Hanker For

Ace Elliot writes Learning About Debt Relief Programs

Bankruptcy Access writes an Introduction to Credit Debt

KCLau writes about a Credit Counseling and Debt Management Agency: FREE Financial Education for Malaysian

Tom Tessin writes about A Simple Debt Reduction Plan

{ 13 comments… read them below or add one }

Patrick October 6, 2008 at 10:54 am

I agree with your assessment of the bailout. I’m not a fan of it, and think we may have been better to let some of these institutions incur some acocuntability for their errors. But, then again, not doing may have lead to a global meltdown.

Thanks for hosting. :)

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Christian Debt Relief October 6, 2008 at 11:23 am

You are 100% correct. I did not not want the bailout either however today’s news alone is enough to tell me it was badly needed. I also did not know it ended up being $850 billion and not $700 billion.

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PT October 6, 2008 at 10:35 pm

Nice work on the carny, Rock.

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mbhunter October 7, 2008 at 12:57 am

Thanks for hosting the Carnival!

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fwp October 7, 2008 at 2:52 am

thanks for the editor’s pick, HR! i am honored indeed.

+1 on, let’s focus on being responsible for ourselves!

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Andy October 7, 2008 at 7:27 pm

Thanks for including my post. The bailout bill is history, just like the returns on my 401K and investment portoflio!

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Scott October 7, 2008 at 9:38 pm

Thanks for including my post. Any little bit of money saved can really help families that are strapped for cash right now.

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The Smarter Wallet October 7, 2008 at 10:45 pm

Thanks so much for hosting! This carnival is great!

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The Digerati Life October 7, 2008 at 10:46 pm

Thanks so much for including my article in your edition. Glad to be part of this carnival.

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Budgets are Sexy October 10, 2008 at 12:26 pm

Yeah for real, Thanks!

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Todd Beardsley January 26, 2009 at 5:30 pm

Bailouts never work, but the carnival looked great! Awesome!

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Surviving A Recession February 25, 2009 at 10:09 am

I have mixed emotions about the bailout. On the one hand i am concerned about the economy recovery from the recession. but, on the other hand I have real issues with just giving money to for profit companies. I would rather use all of the money for investment in infrastructure and schools. IMHO those investments are much more important than bailing out banks and investment companies.

But, we have been told that not saving these institutions would cause the economy to be even worse than it already is. Well, maybe we should break these institutions up. I don’t think that any one company should be able to hold the US economy hiostage and extort money from the US Gov.

i also agree with you that we need to be responsible for ourselves. Great resources thanks.

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Buddy February 28, 2009 at 6:23 pm

In my opinion the bailout was a complete waste of taxpayers money. If these companies failed sure it would be painful but there would be other companies that would rise up and take there place. This is called capitalism. Bailing these failing companies out is only prolonging the misery of a broken economy and placing a burden on our grand children’s children. We need to stop with the bailouts and encourage the entrepreneurial spirit that has made America so great.

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