“Fiscal Cliff” put in a much better perspective

Lesson # 1:

  • U.S. Tax Revenue: $2,170,000,000,000
  • Federal 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 budge:

  • 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: $385

Got it?…. OK now…

Lesson # 2

Here’s another way of looking at the Debt Ceiling:

Let’s say you come home from work and find there has been a serwe 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 ceiling or remove the shit?

via

 


19 comments to “Fiscal Cliff” put in a much better perspective

  • Kay W

    Excellent! I’m going to share this on my business page. Thanks Jonco!

  • Bryan Price

    And we’re worrying about this now instead of decades ago why? Where was the outrage when Reagan tripled the deficit? How about ten years ago when we started two wars (and I won’t go into whether or not they were necessary) without any a clue as to what we were truly fighting for, let alone a comprehensive plan that would have gotten us to that point called “win”, and added a few more trillion to that deficit to fight them.

    • Andy from Beaverton

      And you’re worrying about this now instead of the election last month, why? Where was the outrage when Obama matched Bush’s 8 years of deficits in just 22 months? How about blah blah bladia blah blah.

      I was going to answer ‘move out of the neighborhood’ to ‘What do you think you should do?’ Then I read your hack rant.

    • infidel

      the cost of the wars is pennys in the bucket compared to what we spend on entitlements/welfare/free shit

  • Ray

    Or you could use all that money laying around to pay it off instead of sitting on it waiting for the debt to pile higher.

  • Youngblood

    No, no, no, there are no numbers for FREE shit!

    Lesson #3:
    MORE FREE SHIT!!!!!!!!
    MORE FREE SHIT!!!!!!!!
    MORE FREE SHIT!!!!!!!!
    MORE FREE SHIT!!!!!!!!

    C’mon people now,
    Smile on your brother
    Ev’rybody get together
    Eat the rich and the young right now

    • infidel

      you got that right half the people just want “my free stuff” I am thankful to say that in my almost 50 years here I have never got one penny of welfare /free shit/hand outs

      • UR Scary

        Infidel,

        Count yourself lucky. Some people in this world are not as fortunate as you.

        • Andy from Beaverton

          “Count yourself lucky’?
          B.S. I, like Infidel, have never asked for or received a handout from Uncle Sam. Luck or fortune had nothing to do with it. It’s called hard work, perseverance and doing the best you can with what God gave you.
          A lot of the unlucky are lazy, make poor choices and create excuses at every opportunity.

  • mitchell

    Now, now, now. No reason to worry so everyone settle down
    As our wonderful ‘non gold standard’ and ‘un-auditable’ federal reserve has pointed out, we do not have anything to worry about – we will simply print more money. Never mind that the more we print the less your money in the bank is worth

    I love how everything in DC (both parties) is based upon projected savings and projected revenues 10 years in the future using an average rate of return between 8 and 14% and average domestic growth of 4 to 6%

    Great system of government we have allowed to destroy our economy

  • J-Bird

    Raise the ceiling, or remove the shit? Hell, I’m going to move to a nicer neighborhood, preferably uphill, while the interest rates are still the lowest they’ve ever been! Thanks Freddie Mae, and Fanny Mack!

  • Lee

    Yeah, small thing. That’s a complete misrepresentation of what the debt ceiling is.

  • duuude

    If the family didn’t need to keep going to war against other families, then this could have been avoided!

  • I tried to do that during the past election, but was not entirely successful.

    For life, liberty and peace,
    David Macko
    Former Libertarian candidate for Congress,
    14th Ohio

  • Joe Udovic

    It is time we clean up our act. Obama wants big government time to reduce it and find jobs in the public sector.

  • ray

    Lesson #3:

    The debt ceiling scenario portrayed in Lesson #2 is so full of shit, one must be a moron to even believe it makes any sense.

    To put the debt ceiling in terms that even single brain celled creatures should understand: you agreed to buy a lot of stuff and put it on credit, now you are saying you are not going to pay the bills for everything you bought.

    Most fail to understand because of the term “ceiling.” It has nothing to do with spending more on new things, but rather paying for things you already bought. Those that refuse to raise the “ceiling” are basically approving of dead beats. If you believe we should be a dead beat nation, then you have no right to beef about “free stuff.”

    So to further correct the myth, you can’t “remove the shit” anymore than you can repo two unfunded wars. Congress could get rid of the part of Medicare Part D that doesn’t allow negotiation of prescription costs, which would save a ton of money, but the GOP is in the pocket of big Pharma and would rather the government lose money so they could continue getting political contributions.

    To the ignorant many that don’t know a fact from a hole in the ground, Obama’s government spending is lowest since Eisenhower.

    http://www.politifact.com/truth-o-meter/statements/2012/may/23/facebook-posts/viral-facebook-post-says-barack-obama-has-lowest-s/

    To the same ignorant many that deny keynesian economics works (government spending to help stimulate economy that helps decrease the debt), all one needs to do is come to terms that WW2 helped turn the American economy around (a war that was largely funded by government spending). Even Ike took the same idea and used government spending to pay for the interstate system, building of public schools and such. By doing so, he reduced the debt because of all the jobs the government created brought in more revenue.

    Taking the facts presented, (Obama’s already low spending and government creating jobs) the GOP should pass Obama’s jobs bill, (along with changing trade rules by way of increasing tariffs–another bill the GOP blocked) the process to reducing the debt would begin.

  • ray

    Perhaps this video will help explain the debt ceiling to some:

 
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