Budget deficits/national debt

Discussion in 'Politics' started by thereisnospoon, Oct 26, 2012.

  1. thereisnospoon
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    thereisnospoon Gold Member

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    This about sums up why "when the guy your hired isn't doing the job, you have to let him go".
    This rather brilliantly cuts thru all the political doublespeak we get.

    It puts it into a much better perspective.

    Lesson # 1:
    * U.S. Tax revenue: $2,170,000,000,000

    * Fed budget: $3,820,000,000,000

    * New debt: $1,650,000,000,000
    * National debt: $14,271,000,000,000

    * Recent budget cuts: $ 38,500,000,000

    Let's now remove 8 zeros and pretend it's a household budget:

    * Annual family income: $21,700
    * Money the family spent: $38,200

    * New debt on the credit card: $16,500

    * Outstanding balance on the credit card: $142,710

    * Total budget cuts so far: $3.85

    Got It ?????

    OK, now Lesson # 2:

    Here's another way to look at the Debt Ceiling:

    Let's say, You come home from work and find there has been a sewer backup in
    your neighborhood....and your home has sewage all the way up to your
    ceilings.

    What do you think you should do ......

    Raise the ceilings, or pump out the crap?

    Your choice is coming November 6, 2012.
     
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  2. occupied
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    occupied Gold Member

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    I love it when republicans think there is direct correlation between our national budget and a household budget, shows just how easily they are misled about the process and who actually bears the lion's share of the blame.
     
  3. g5000
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    g5000 Diamond Member

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    There is some correlation between a household budget and the national budget. Not entirely, but some.

    The credit card example ignores the $300,000 mortgage debt the household also has, for example.

    However, there comes a time when the balance on your credit card becomes so high that the bank begins charging you a higher interest rate. And that will eventually happen to America, too, if we don't get our debt under control.

    In fact, our national debt is financed with shorter and shorter term bonds these days, which makes it more and more similar to revolving credit. And because of that, when interest rates rise, the federal budget will break down immediately. We're done for.

    We have to show our creditors very soon that we have a plan to pump out the shit.

    .
     
  4. Oldguy
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    Oldguy Senior Member

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    Yeah, it's kinda hard to work miracles when one House of Congress shitcan's every thing you send over there because it's got your name attached to it.
     
  5. occupied
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    occupied Gold Member

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    90% of what has come out of the house since 2010 have been political statements disguised as bills they know will never pass. They might be called something like "The prosperity for everyone act" when it is really just some kind of special interest crap.
     
  6. thereisnospoon
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    thereisnospoon Gold Member

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    Really? Tell us then what is misleading..
    Or are you going to hide behind the old cliche "it's much more complicated than that"..
    That's the problem with politics. Politicians complicate things that need not be complex.
    It's very simple. You take in a dollar, you make sure you don't spend more than a dollar.
    If you don't spend all of the dollar, you save the rest for emergencies.
    The problem with government is it spends it all whether it is necessary or not. Then it adds automatic increases to the next FY budget with NO regard to how the increase is to be funded.
     
  7. thereisnospoon
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    thereisnospoon Gold Member

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    No genius. It had nothing to do with who's name was on it.
    The fact is Obama sent up budget proposals he knew had no chance of passage.
    Obama has played politics with the nation's financial well being.
    Your side wrings it's collective hands over bi-partisanship....When it comes to the meat in the sandwich, the democrats played "my way or the highway".
    BTW, this excuse does not hold water. For two years Obama had a filibuster proof Senate and a large majority in the House. So please, look inward and blame yourself.
     
  8. thereisnospoon
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    thereisnospoon Gold Member

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    Anything that comes out of Washington that designed to stop the spread of liberalism is fine with me.
     
  9. occupied
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    occupied Gold Member

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    It's not very simple, not at all. Republicans seem to think that the deficit is something that can be solved with the stoke of a pen and magically transform the country into something much better, when it is really a gigantic compromise between keeping taxes low and the realization that hungry, homeless people tend to become rather ungovernable and violent.
     
  10. thereisnospoon
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    thereisnospoon Gold Member

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    What a pile of manure.
    I gotta get this straight.
    Our government mortgages the future of the next three generations in order to keep poor people from going nuts and rioting...That is an amazing conclusion.
     

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