If the gov't was an individual, always a good one..
BTW Condensed from an earlier thread on the same subject...
"Why the U.S. was downgraded "
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 eight 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 " Anonymous
BTW to look how the family spends...
Defense $6,890 (689,000,000,000)
Social Security $7.010 (701,000,000,000)
Medicare $7,930 (793,000,000,000)
Discretionary $6,660 (660,000,000,000)
Mandatory $4,160 (416,000,000,000)
Interest on debt $1,970 (197,000,000,000)
At this point I'd be willing to elect Dave Ramsey as President. They need to go through the budget with a chainsaw, not a scalpel.
This is why I am against raising taxes until we cut spending. I believe that taxes will have to be raised, but it should not be the first action. Raising taxes will just put off making the hard decisions that need to be made.Originally Posted by mriddick
"Nothing ever gets so bad that government "help" can't make it worse." Pat Garrett, March 22, 2014
"HATE IS GOOD, WHEN ITS DIRECTED AT EVIL." PROBASCO, April 20, 2012
I tried to push the envelope, but found that it was stationery.
Have you heard about the new corduroy pillows? They're making head lines!
NRA Endowment Member
As soon as they cut spending and raise taxes, they'll just raise spending again to require another tax hike. We need a balanced budget amendment.
correction: WE'LL GIVE TIAWAN to china to get them to back off.
Either way, china and the U.S. are on a collision course over the debt......
"What sick, barbaric bastards.
It's one thing to use terrorism to make a political statement, but the wanton mutilation and suffering of innocents? How does that forward your political goals? When done in the name of religion, how does that earn you brownie points with God?
Fuck religious extremism. And especially fuck the "religion of peace." "
So, lagcsocialist supports terrorism AS LONG AS ITS FOR POLITICAL ENDS....
I really don't get that, it's like saying you and your bank are on a collision course over them paying you interest on your savings. The only problem is if and when the Chinese feel they have enough invested and cut Washington off from more money, I'm sure they'll be happy to collect interest for centuries if we let them (and in some ways I think that is the goal). I think are on a crash with our inability to borrow.
The idea you can inflate away the debt is not really that realistic, little debt is held long term, it's almost all short term debt. If inflation was to creep up the interest rates would creep up as well so all that would happen is when the debt comes up they would roll it over at a newer higher interest rate bond.
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