The Economy in Simple Terms
Jul 26, 2012 18:37:08 #
This cuts through all the political doublespeak we receive and explains the problem in a logical, common sense way.
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 from each of the figures 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 so far: $38.50
Got it ?
OK, now Lesson # 2: Here's another way to look 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 ceilings, or pump out the shit?
Your choice is coming Nov. 2012.
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 from each of the figures 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 so far: $38.50
Got it ?
OK, now Lesson # 2: Here's another way to look 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 ceilings, or pump out the shit?
Your choice is coming Nov. 2012.
Jul 26, 2012 21:26:03 #
Go back to the former regime that has verbalized no new vision but their previous actions gave away the surplus they inherited, gave us the economic disaster of a generation, doubled the deficit and believes that trickle down works or stay with the administration that has gotten us out of one war, chopped the head off of the perpetrators of 9/11, slowed the free-fall in the economy they inherited, added jobs every month for over two years, and has had absolutely no cooperation from the opposing party. Come November Vote the GOP out of their majority in the House and give the economy a chance to recover.
Jul 27, 2012 07:43:20 #
Neither side wants to cut their favorite projects, lets start with foreign aid to countries that hate us, lets bring home troops stationed overseas, lets bring home exported jobs, lets raise tarriffs on imported luxury goods, oh the list is too long, Bob.
Jul 27, 2012 07:43:51 #
lost_found wrote:
Go back to the former regime that has verbalized n... (show quote)
He didn't do that, someone else made that happen!
:thumbup:
Jul 27, 2012 07:58:28 #
How soon you forget that when Clinton left office we were headed into a recession. How soon you forget 9/11 & it's effect on our economy. How soon you forget that Bush had a Democratically controlled House & Senate that stymied most of his agenda except for those bills that added to the deficit like the prescription Drug plan....Obama ended the war in Iraq according to the end date that Bush set up. As for adding jobs, why is the unemployment rate as bad as it has been then ? If all 3 levels of Government are held by the same party, there would be no checks on excesses of government. One party rule leads to corruption IMHO. Very selective memory I'd say...
lost_found wrote:
Go back to the former regime that has verbalized n... (show quote)
Jul 27, 2012 08:09:22 #
pigpen wrote:
quote=lost_found Go back to the former regime tha... (show quote)
Ha! Ha! Ha! Very funny pigpen!!
Jul 27, 2012 08:37:52 #
It is my fervent hope that someday the world's economy and the nation's finances can be expressed this simply. Of course, neither can. And when people think they can they misunderstand the budget process and come up with simplistic "examples". Wish it was this easy.....
Jul 27, 2012 09:12:38 #
Robert Graybeal wrote:
This cuts through all the political doublespeak we... (show quote)
received this in an email awhile back; loved it then and love it now.lol
Jul 27, 2012 09:41:36 #
Robert Graybeal wrote:
This cuts through all the political doublespeak we... (show quote)
Outstanding lesson - will share this with friends. Simple, simple, simple!!! :thumbup: :thumbup: :thumbup:
Jul 27, 2012 09:42:19 #
ephraim Imperio wrote:
quote=pigpen quote=lost_found Go back to the for... (show quote)
I love it!!!!!!!!!!!!!!!!
Jul 27, 2012 09:50:56 #
Jul 27, 2012 09:51:59 #
Hunter Lou 1947
Loc: Minnesota
We really need to stay the course and vote the House GOP out to get some sort togetherness working for the people instead of this bickering.
Jul 27, 2012 09:57:28 #
Hunter Lou 1947 wrote:
We really need to stay the course and vote the House GOP out to get some sort togetherness working for the people instead of this bickering.
???? Whose bickering???
Jul 27, 2012 09:58:42 #
O.K. folks, here is the simple truth.
Do you remember when Dick Cheney said "deficits don't matter"? Did you realize that this is more true now than when Cheney said it?
The current inflation rate as of June 2012 is 1.7%
The yield on a 10 year Treasury note is 1.49%
As long as T-note yields are below the rate of inflation, the U.S. government is borrowing money for free!
Can your family do that?
Do you remember when Dick Cheney said "deficits don't matter"? Did you realize that this is more true now than when Cheney said it?
The current inflation rate as of June 2012 is 1.7%
The yield on a 10 year Treasury note is 1.49%
As long as T-note yields are below the rate of inflation, the U.S. government is borrowing money for free!
Can your family do that?
Jul 27, 2012 09:59:24 #
lost_found wrote:
Go back to the former regime that has verbalized n... (show quote)
I'd say the above math makes any of your points moot.
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