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: 3954
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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#1. To: rowdee (#0)
We are in "deep shit" for sure
The $16 Trillion Man http://freebeacon.com/
Good job.
Thank you but I can only get credit for posting it as I was not the author. I have no idea who came up with this.
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.
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.
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. Concerning: #1--no cutting them any slack...it must be annually; otherwise, they will find a way to suddenly slip to 3 years; and then its back to the same old, same old. The rules MUST BE VERY TIGHT AND VERY SWIFT. No more of the bunching together of a zillion items under one omnibus bill either. #2--yes. It should be noted that each department turns this info in to the congress with their stated goals at budget time now, I imagine congress just files them away on old dust-filled shelves to collect dust as they have done in the past. 3. The General Accounting Office already does this and has been producing reports for many years now. Said reports shows how badly they have met their goals (very very low per centages--as I recall, the highest per centage of meeting goals that I've seen was somewhere in the neighborhood of 70%--but the 20sz range was most common). Again, it seems as though congress does nothing with these reports other than letting them collect dust! How about something along the lines of 'for every 10% they miss their stated goals, there is a 10% reduction in budget reqyuest. An no wimpy goal setting allowed or else there will be a 20% defunding. Furthermore, whenever congress and the president miss the budgetary goals, there will bea 10^ reduction in their salaries and perks. How about any department shown to be trying to spend 'excess' funds at the end of the fiscal year will have this anmount deducted from the top 10 executive managers in that department--on a % basis). Besides reducing spending based on this current years figures, I've listed elsewhere federal employment reductions, etc. The very last thing that should be considered is increasing taxes or fees. Period. And that only with the consent of the governed--and only those who pay income taxes. If all of this was enacted or done, they would be so busy they couldn't be making all these lousy laws and such.
#2. To: rowdee (#0)
#3. To: rowdee (#0)
"we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plague" -- lucysmom
#4. To: jwpegler (#3)
#5. To: rowdee (#0)
(Edited)
"we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plague" -- lucysmom
#6. To: jwpegler (#5)
#7. To: rowdee (#6)
(Edited)
"we must as a species go into a period of shrinkage that we have not experienced since the Dark Ages and the Black Plague" -- lucysmom
#8. To: jwpegler (#7)
There are a few, non-ideological reforms that we could undertake that would quickly help clean up the budget.
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