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Money 101:
Personal Money Planning's Newsletter
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Money 101 AUGUST 20, 2011 |
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Howdy!
When money is short, what do you spend it on? And what do you cut back on? Gary tackles this classic debate in his Soapbox. And just in case you've forgotten what money looks like, there's a place in Texas you can visit to sneak a peek. That place was the spotlight of one of Gary's recent Times Record News articles.
Have a great week! |
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 Guns or Butter
It's the classic economic pendulum: what do you spend your money on...guns or butter? Put in a more modern sense, if we have to cut something, do we cut defense (guns) or social programs (butter)?
President Obama wants to reduce defense spending and put the money toward things like unemployment insurance, food stamps, and Head Start programs. Republicans want to keep a strong defense. The former makes sense due to the current economy. The latter makes sense given the rise of China and the reemergence of Russian military might.
Some say the answer is obvious: guns. Defense is the traditional duty of the federal government. Take a look at our history. Also, why else would our President be military Commander-in-Chief? But traditions change. We certainly would agree that evolving conventions are important for society to move forward. "Traditionally," a black person was counted as five-ninths of a person. "Traditionally," women were not allowed to vote.
It would stand to reason that both guns and butter should have to survive on less money. However, it is difficult for either side to give in. Both guns and butter are true needs of a nation. And, perhaps more important politically, each side's bastion of support is polarized on one side of this pendulum swing or another. This, of course, is the reason why neither side wants to budge-their very existence, based on your vote, is at stake.
So, if you are a Republican who thinks a little less defense and a few more taxes are okay, let your party know. And if you are a Democrat who thinks that cutting some social programs won't be the end of your world, let that be known, too. For right now our elected officials think that compromise of any kind is political suicide-and God help us if that is true.
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From The Times Record News
Did you know there's a place in Texas where you can experience being "this close" to billions and billions of dollars? It's called the Bureau of Engraving and Printing Facility. Learn more...
Generation Y is the name of those born between 1977 and 2001. You would think they would be risk-takers, and they are--just not when it comes to investing. Learn more...
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FYI 101  In case you missed the Facebook link to this article, we wanted to share some of the top lessons about estate planning. What are the elements of an estate plan and how should you start? This article starts you on the right path.Learn more...
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After 40 years for the downstairs and 70 for the upstairs, it is finally time to replace the seats at the Wichita Theatre. The proceeds from the 2011 Foundation Partner Fundraising Campaign will be used to change the old for the new. The Wichita Theatre is asking their patrons to help by adopting one or multiple seats. With each seat purchased, you will not only be helping those who will be sitting in the seat for future generations, you will be honored with a gold plate mounted into a beautiful display in the main theatre lobby.
Help support the Grand Ole Dame, the Wichita Theatre. Each seat costs $200. You can even make payments on your donation by putting $50 down and making $15/month payments. Contact Jeral W. Jackson at 940-733-5094 if you are interested.
Sincerely, 
Gary Silverman
Personal Money Planning |
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©2011 Personal Money Planning . All rights reserved by Personal Money Planning and content may not be reproduced, disseminated, or transferred in any form or by any means, except with the prior written permission of Personal Money Planning unless specifically noted. (Permission is not difficult to obtain.) The one exception is for downloading and printing information from this newsletter for general education by the original recipient.
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DISCLOSURE
This newsletter is produced by Gary Silverman, dba Personal Money Planning, a registered investment advisor located in Wichita Falls, Texas.
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