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The US economic situation, simplified


This arrived in e-mail yesterday, and I thought it was a wonderfully simple way of looking at the US economy.  My apologies if anyone has already posted it.

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: $385

Got It ????? 

Anyone on a household income of $21,700 knows how completely impossible it is to erase a credit card debt of $142,710, especially when you keep adding new debt to your credit card every year.  So how on Earth does this country pay off that kind of debt?

You don't erase credit card debt by buying new cars, flat screen TVs, or season tickets to a sports team.  You do it by cutting out everything except the essentials -- tighten the belt and put off the urge for instant gratification -- until it's under control.

Or didn't your parents teach you that?

Lesson #2:

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

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 Nov. 2012.

Entry #644


rdgrnrComment by rdgrnr - August 18, 2012, 11:44 am
Roger that!
Comment by GASMETERGUY - August 18, 2012, 12:42 pm
Our debt is one reason why I fear the resurgence of slavery. When the producers stop producing because all they earn is taken away to pay the debt, the only recourse for government is to creat a slave class which then will be tasked with producing goods/services. Who will comprise this slave class. Answer: Those not counted among the elite.
Comment by bobbya - August 18, 2012, 2:40 pm
You don't keep giving those that have enough more that they don't spend and making everyone else pay for it either.
Those that keep getting more at the expense of others don't eliminate any debt when they are depriving the Treasury of needed revenue to bring down the debt either.
Comment by bobbya - August 18, 2012, 2:44 pm
Corporations have already created a slave class in 3rd world countries where they have taken American jobs to and given Government subsidies to do so.
Their ultimate goal IS,with Republican compliance,to have that same slave class in America.
With the election of a Romney-Ryan ticket their goal WILL BE accomplished sooner rather than later.
sully16Comment by sully16 - August 18, 2012, 3:25 pm
Thanks Todd.
bobby623Comment by bobby623 - August 18, 2012, 3:35 pm
How can one person (Obama) be blamed for the sewer leak? The US economy rises and falls according to a mix of factors. Politicians on both sides must share the blame, particularly the racists who can't strand the fact that a Black man was elected president. The economy will improve when greed gives way to sound business decisions.
In my humble opinion, of course.
MADDOG10Comment by MADDOG10 - August 18, 2012, 3:58 pm
Thanks Todd..

One of our readers is very misinformed. He seems to think the affiliations towards Obama is because of color. On the contrary, it has absolutely nothing to do with color. What it revolves around is, Lack of experience, Lack of Intelligence, Lack of decency, and last but not least, Lack of Leadership.
After all when you just scoop Ice Cream and smoke pot as your experience, who could ever think you could run a country such as the U.S.A. , except down...

Even if someone who was white in that position, I'd still say the same thing...!
jarasanComment by jarasan - August 18, 2012, 6:54 pm
Another thing I've been noticing is the Obamacare Medicare money borrowed being noted as $700 Million, it is $700 BILLION. Yeah. drain the swamp lots of Drano, flush and repeat.
ToddComment by Todd - August 18, 2012, 9:36 pm
@MADDOG10 - Right you are, the ones who do nothing except think about race are the true racists. They see the world as skin colors, and they base all their thoughts and actions on it. Personally, I just see ideas -- good ones and bad ones.

I hope the people who see nothing except skin color finally get a clue someday. It's what inside that counts, not what color someone's skin happens to be.
ToddComment by Todd - August 18, 2012, 9:49 pm
NOTE ALL that boobya never deals with the actual subject of my blog entry here. It is good education for how liberals debate. Since they do not have the facts and logic on their side, they distract, lie, and distort in order to draw attention away from reality.

After reading Boobya's comments, simply re-read my original post, and you will see that the original blog post was correct, and you will easily recognize the liberal mindless crap dump.

When debating liberals, do not get sucked into the crap dump. Calmly go back to your original point, which frustrates the illogical liberal.
sully16Comment by sully16 - August 18, 2012, 10:50 pm
Todd, It really boggles my mind that so many libs believe that with Romney in office he will just fork over more cash to rich people, like we the middleclass just can't wait to be taxed so the rich will have more, maybe I should just cut out the middleman and send all my money directly to Bill Gates or Paris Hilton, why bother with the tax thing.
My father in law used to say, There's got to be the rich guy, the one who creates the jobs, takes the risks, and takes the heat.
I can't think of anyone in the country who got rich at my expense except those in government.
They are living quite well at all of our expense.
ToddComment by Todd - August 18, 2012, 11:20 pm
Well said sully.
Comment by JezzVim - August 19, 2012, 12:14 am
I have a problem with casting a vote in November. I don't want to vote for either party. I find them both blantant liers, self serving, and power hungry. Yes, we need a change, but a real change.   I live in Phila, Pa. where they can not honor the union contracts for workers, and expect the workers that do all of the dirty work that you and I won't do to work without a legal contract for years.   Yet, there is a millionair that bought a house or condo in Philadelphia for 2 or 3 million dollars that doesn't have to pay real estate taxes for 10 years. You heard me. We have streets caving in, water lines breaking and flooding out homes and business and the people that can pay taxes like the rest of us is allowed to go scott free for 10 years.   Oh!! To off set the able tax payers that doesn't have to pay they raised real estate taxes on the ones that can't qualify for the 10 year tax abatement.   Do math on that!

I find it horrifying that one of the richest man in the USA pays less income tax than his secretary.   Corporations pay their CEO's more bonus money than taxes. I can go on, but it won't change a dern thing.   

Our priorities are screwed up, I don't know when things changed so that corporations are more important than the USA and the welfare and security of its citizens.   No party is right in this matter, it continues on no matter which party we elect.

GOD Save America!
ToddComment by Todd - August 19, 2012, 6:36 am
JezzVim, You are buying the load of bull crap when you say the richest man is paying less tax than his secretary. That is utter bull crap. He is in fact paying a tax for a SECOND TIME on that income you're talking about.

Warren Buffet does not earn a regular income any more. He is only earning income on INVESTMENTS, and investment income is taxed differently than regular income. When his secretary (or ANYONE) invests their income, they will pay tax at the same rate that Warren Buffet does.

When Warren Buffet earned the money that he later invested, he paid tax on it, just like his secretary does, and he paid much more income tax.

Our priorities have indeed gotten screwed up, and your comments are a good example. Since when do we seek to PUNISH SUCCESS in this country? Since when are people who succeed in life bad guys to be vilified?

Also, there are stark differences between the parties, so your comments about them being the same are also BS. Democrats have become the party of socialism and government takeover of everything. The Republicans (led by outraged common citizens) are the party that stands for restoring government to its proper (and much smaller) position -- the one outlined clearly in the Constitution.

You sound angry at your personal situation, but when you start casting blame in every direction, you are only going to become angrier, and you're not going to help your personal situation at all.
Comment by JezzVim - August 19, 2012, 7:28 am

Debate 101 Todd, don't personally attack the other guy.

It's only my observance of what is going on around me, not necessarily what is affecting me personally.   I use to work for the homeless projects for 20 years and know stories and history of the have nots. I'm retired now, but stil would like to see the average joe get a fair shake.

The ratio of CEO's paychecks and the regular workers is vastly different than what it once was.   I'm not speaking of the "job creators", the one that sweated and worked their tails off to grow a company, I'm speaking about those that come in as a officer of a company with their BS to make the average worker in that company work their tails off with 60 or so hours a week and take credit for "improving productivity" because the worker is scared to lose their job, and then they cut the workforce and get a bonus for it.   

I'm sorry for you and those that can't see the furture. The Wall Street demos was squashed for the time being, but there is a under current of anger at the people in power that stole their pension plans, houses, bank accounts and future.
ToddComment by Todd - August 19, 2012, 8:16 am
I didn't attack anyone. You saying that I personally attacked you is a debate tactic in itself, designed to invalid my remarks.

You also shifted the point away from the blog topic, and I'm frankly not interested in debating CEO pay levels. It has nothing to do with the amount of debt being piled up by the ever-expanding government.

If you want to post a rant about CEO paychecks and your fear that CEO paychecks will be the end of America, then you have your own blog for that. But please don't take my blog entries off-topic. Thanks so much.
reddogComment by reddog - August 19, 2012, 7:04 pm
Less than 80 days until America is freed from the chains that Joe Bite Me refers to.

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