Budget for dummies

Discussion in 'Politics' started by eflatminor, Dec 19, 2011.

  1. eflatminor
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    eflatminor Classical Liberal

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    For the remedial among us...

    [​IMG]

    It's immediately out of date of course. The debt is now over $15 trillion but what's a trillion between friends...
     
  2. auditor0007
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    auditor0007 Gold Member

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    It's quite obvious, this family needs to make more money.
     
  3. mosten11
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    mosten11 Member

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    It's quite obvious that this family needs to quit putting themselves in debt... the question should be (hypothetical of course), how much of that debt for that family comes from their own stupidity by getting a new car with monthly payments? How much of the debt is a result of taking out a loan for a house they obviously can't afford? Even better yet, that credit card debt, how much of it was actually items they needed vs. the items they wanted?

    Try to think harder, like us smart Republicans.
     
  4. eflatminor
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    eflatminor Classical Liberal

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    And when more income is not possible, this family needs to spend less, wouldn't you agree?

    Given that we've had widely varying marginal tax rates over the years, yet tax revenue as a percentage of GDP changes very little, it's clear that making more money is not possible. Time to sell assets and or spend less...unless you have magic beans we don't know about???
     
  5. mosten11
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    mosten11 Member

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    ^My point exact in my previous post to this user you quoted.
     
  6. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says whilst dem politicians been standin' around playin' pocket-pool, we've reached the tipping point...
    :eek:
    U.S. debt is now equal to economy
    8 Jan.`12 WASHINGTON – The soaring national debt has reached a symbolic tipping point: It's now as big as the entire U.S. economy.
     
    Last edited: Jan 8, 2012
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Ain't gonna affect Uncle Ferd's wallet - he ain't got nothin' in it...
    :eusa_eh:
    How the National Debt Could Hurt Your Wallet
    01/13/12 - Average Americans will have to help foot the bill for the country's $15 trillion national debt.
    See also:

    It boggles the mind...

    Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined
    January 13, 2012 - President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the national debt by $6.2 trillion ($6,195,379,272,340.74) by the end of his term on Jan. 20, 2013, according to the debt figures published by the U.S. Treasury.
     
    Last edited: Jan 14, 2012
  8. waltky
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    waltky Wise ol' monkey Supporting Member

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    Debt runnin' amok...
    :eek:
    CBO: Obama’s Policies to Increase National Debt 47 Percent to $21.7 Trillion by 2022
    January 31, 2012 – The Congressional Budget Office projects that the national debt under President Obama’s policies will rise to $21.665 trillion by 2022, according to its updated budget outlook.
     
  9. rdean
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    rdean rddean

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    When the economy does well, revenue flows and the debt drops. Republicans don't seem to understand this. All they know is "bomb, break, destroy and tear down".
     
  10. g5000
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    g5000 Diamond Member

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    A great many American families are in a very similar situation as the imaginary one in this example. Being that deep in debt is a very common condition when you have a mortgage.

    And just like a homeowner has the house as an asset to balance against the debt, the US has a great many assets to balance against its debts.
     

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