Economy
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Title: QUICK EXPLANATION OF THE NATION'S FINANCIAL SITUATION
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Published: Sep 4, 2012
Author: UNKNOWN
Post Date: 2012-09-04 19:31:07 by rowdee
Keywords: None
Views: 3728
Comments: 8
This explanation seems to make it easier enough for even the "lesser paying attention' citizens in the country. I wonder if that would include folks like Roseanne Barr? Hmmmmm.......on second thought...... PART I * U.S. Tax revenue:............... $ 2,170,000,000,000 Now, remove 8 zeros and pretend it's your own houehold budget. Here we will put in a decimal point and two zeros to indicate cents (the previous sets of numbers were too numerous) * Annual family income:.................................$ 21,700.00 Got It ????? GOOD. And here is an even easier way to look at the National Debt Ceiling. You just 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 Remember this when you go to the voting booth come November.
* 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
* Money the family spent: .............................$ 38,200.00
* New debt on the credit card: .....................$ 16,500.00
* Outstanding balance on the credit card:....$142,710.00
* Total budget cuts so far: ..................................$ 38.50
___ pump out the crap out
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#5. To: rowdee (#0)
(Edited)
The rate of increase in the debt is increasing. At this out-of-control situation.
We will never have a completely accurate picture of the national debt. A few years back, there was a representative from Michigan, Wisconsin, or Minnesota, I believe the name was Nick Smith. He started compiling figures which included all the unfunded liabilities, i.e., all the pension monies for which there was never anything set aside to pay. IIRC, he ame up with something like $75 trillion. But, true to form, his words fell on deaf ears............they simply can't control their spending habits. And as for cuts--this is the biggest bullshit pile of all. They are talking about cutting what they propose to spend in the future.....as though anything they estimate is ever anywhere close to accurate OR events happen that change it all. They set a new baseline each year, and it is a general increase over previous years. This country needs some real people, like our local Sheriff. He had around $100,000 left at the end of the year and he turned it back to the commissioners. He didn't rush out to find something to buy so he could build a case for an even bigger budget next year. 535 of him would be great in DC..........but I am glad he is OUR sheriff.
#7. To: rowdee (#6)
(Edited)
Yep, the unfunded liabilities in Social Security and Medicare are staggering. In addition to changing the baseline on these programs every year, Congress only votes on about 15% of the budget. The rest of the programs are basically on autopilot. There are a few, non-ideological reforms that we could undertake that would quickly help clean up the budget. 1.) Require that Congress reauthorize every program during every budget cycle. No more programs on autopilot. We would probably have to move to a two year budget cycle, which a lot of states already have. 2.) Require that every program have stated goals with clear metrics. No more fuzzy promises -- we need hard metrics on what the programs are supposed to accomplish. 3.) Hire a third party to do performance audits of every program, measuring actual results versus the stated goals. Publish the results of the audits on the Internet for all to see before every election. Every program would have a simple green, yellow, or red indicator depicting it's actual performance against the goals with the ability to drill into the details. This is how successful businesses are run.
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#6. To: jwpegler (#5)
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