Get Food Stamps
Newt Gingrich and his Neanderthal fans have branded Obama “the food-stamp president,” as if that were a bad thing. Food stamps, they imply, are a handout to the lazy that takes food out of the mouths of the more deserving. They couldn’t be more wrong. If you work full time at Oregon minimum wage, have less than $2,000 in the bank and live alone, you probably qualify for the Supplemental Nutrition Assistance Program, and you should take advantage of it. Don’t worry about freeloading: According to a 2008 study by Moody’s Analytics, food stamps are the single most effective form of government stimulus. Zandi found that every extra dollar spent on food stamps adds $1.73 to the economy. (Secretary of Agriculture Tom Vilsack cited an even higher $1.84 per dollar spent in a 2011 interview.) So when you use food stamps, you’re doing all of us a favor. Check out oregonhelps.org to find out if you qualify.
Walk Away From Your House
If you own a house that is worth less than you owe on your
mortgage, you are, in industry parlance, “underwater.” In real-world
terms, that means you are unlikely to recoup your investment in the
property. You are, essentially, renting from the bank. If your mortgage
is more than you’d spend on rent on a comparable property, you’re
throwing money away. If you find yourself in this situation, call your
lenders and ask them to agree to a short sale—that is, to let you sell
the home for less than the amount you owe and write off the difference.
If they won’t agree, choose strategic default: Stop paying and let the
bastards foreclose. You have no more moral obligation to pay your
mortgage than corporations do, and you won’t put the bank out of
business by walking away. They knew default was a risk when they made
the loan. Look out for your own interest first. Visit youwalkaway.com to
find out if strategic default is the right decision for you.