Fiscal Cliff put in a much better perspective

Discussion in 'Financial Cents' started by melbo, Feb 2, 2015.

  1. melbo

    melbo Hunter Gatherer Administrator Founding Member

    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 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 ceiling or remove the shit?
    Last edited: Feb 2, 2015
    HK_User, nathan, JABECmfg and 10 others like this.
  2. Dunerunner

    Dunerunner Brewery Monkey Moderator

    Somebody please send this to Congress printed on a 60 foot sign so they can see it!!
    Yard Dart and Mountainman like this.
  3. DarkLight

    DarkLight Live Long and Prosper - On Hiatus

    Unfortunately there are WAY to many polysyllabic words and they would just get confused. It boils down to this:


    There, not one of those words is more than a single syllable. Even those in Congress without a brain (that would be darned near all of them) should be able to understand that!
    Yard Dart and Dunerunner like this.
  4. oldawg

    oldawg Monkey+++

    The founders of this republic understood the reasons for limited government and term limits. Human nature. Power corrupts. Our .gov is so large and cumbersome now that without the liberal and repeated application of tar,feathers,and rope we as a nation will fall. I fear that the time of the vote alone fixing the problem is past. Now I'm certainly not advocating the use of powder and patched ball ...................... but I do have some.
    gunbunny, Yard Dart and Tully Mars like this.
  5. Harbin

    Harbin Monkey+

    While I'd love to see the government get more fiscally responsible (que the laughing), I can't imagine it would ever actually happen unless we hit a "299-days" scenario. They will make a few cuts here and there, commenting on how it will save $xxx... over the next 2 decades, but the reality is there are too many of the same old stooges reelected, too many special interests, and too many people on the take.

    I make a real effort in life, regardless of the situation, to see alternate sides of an argument and compare them to my opinion/perspective. In this case, I simply can not understand when I read posts (mostly on other forums) from people that seem intelligent yet try to convince others that the debt doesn't matter for one reason or another, or that debt is a good thing. WTF?!?

    The dumbest response I've heard is that it doesn't matter because we are borrowing it from ourselves.

    I agree with oldawg- I don't see how voting alone can fix it.
    gunbunny likes this.
  6. gunbunny

    gunbunny Never Trust A Bunny

    @Harbin, thanks for the advise! I'm going to get today's mail so I can fill out all of the credit card offers. If this thing blows up in my face, I'll tell them you said it was okay. Alright?

    /Sarc off
    Harbin likes this.
  7. Harbin

    Harbin Monkey+

    @gunbunny -awesome! Any creditors that call, just say my name is Habibe Mohammad and I said it was ok.
    gunbunny likes this.
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