|
Joined: Nov 2006
Posts: 8,557
Campfire Outfitter
|
OP
Campfire Outfitter
Joined: Nov 2006
Posts: 8,557 |
Found this on the Internet....
U.S. Tax Revenue $ 2,170,000,000,000 Federal Budget $ 3,820,000,000,000 New Debt $ 1,650,000,000,000 Existing National Debt $ 14,271,000,000,000 Recent Budget Cut $ 38,500,000,000
Now, remove 8 zeros and pretend it's a family's budget:
Annual family income $ 21,700 Money the family spent $ 38,200 New debt on credit card $ 16,500 Existing balance on credit card $ 142,710 Total budget cuts which some politicians are proud of $ 385
One candidate wants to cut $1 trillion in year one or in this analogy $10,000
|
|
|
|
Joined: Aug 2007
Posts: 12,071
Campfire Outfitter
|
Campfire Outfitter
Joined: Aug 2007
Posts: 12,071 |
The only difference in that analogy is the federal government won't go hungry.
|
|
|
|
Joined: Jan 2006
Posts: 21,810
Campfire Ranger
|
Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
For example, the DOD budget buys planes, ships, tanks, rifles and uniforms, generating employment in Marietta (GA), Newport News (VA), Lima (OH), Columbia (SC) and, Los Angeles (CA).
If we cut the Federal budget (which we do need to do at some point) we all need to realize that jobs will be lost.
|
|
|
|
Joined: Sep 2003
Posts: 13,670 Likes: 1
Campfire Outfitter
|
Campfire Outfitter
Joined: Sep 2003
Posts: 13,670 Likes: 1 |
And toss figuers are what I see as the greatest danger to our American way of life. The wealth this nations citizens, not the govt, has been squandered, it's gone, vanished, kaput. Even u sharp guys that have a positive net worth out there are living under false pretenses. That debt has been accummulated in ur name by our govt. Both sides of the aisle for years and years. U have to subtract your share of the debt from ur net worth to glean ur true net worth. That figure must be derived by dividing the actual number of tax paying citizens not non layers to derive a true figure
no matter your stance on foreign policy, domestic spending, infrastructure or entitlements, it doesn't matter where u stand on any of those we can't as a country decide how to fund any of those things. First we have to begging with hat in hand to see if the Chinese & other nations will lend us the money to do so
you can thank a bunch of politicians for that
treason in my book. YMMV
"This ain't dress rehearsal....it's the life you get to live, make it a good one."
TEAMWORK = a bunch of people doing what I say
|
|
|
|
Joined: Sep 2003
Posts: 13,670 Likes: 1
Campfire Outfitter
|
Campfire Outfitter
Joined: Sep 2003
Posts: 13,670 Likes: 1 |
Apology submitted. Typing from iPhone as outa town
"This ain't dress rehearsal....it's the life you get to live, make it a good one."
TEAMWORK = a bunch of people doing what I say
|
|
|
|
Joined: Jul 2007
Posts: 6,418
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2007
Posts: 6,418 |
Is this Randy? Did you change your handle back?
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
|
|
|
|
Joined: Oct 2005
Posts: 79,321 Likes: 2
Campfire Oracle
|
Campfire Oracle
Joined: Oct 2005
Posts: 79,321 Likes: 2 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
Jobs that are paid for by money extorted from taxpayers.
|
|
|
|
Joined: Oct 2002
Posts: 3,728
Campfire Tracker
|
Campfire Tracker
Joined: Oct 2002
Posts: 3,728 |
We, as a people, no longer have the balls to do what is required.
It is simple, no more deficits, Ever! Bite the bullet .
Take last years tax receipts, less a reasonable payment on the outstanding debt, and there is what you have to spend.
Set our priorities, use the money for those, and screw everything else.
Just like a responsible adult does in their personal finances. In a few years the economy will improve.
The freeloaders, well, be they on the dole or useless government lackeys, starve or get productive.
|
|
|
|
Joined: Jul 2007
Posts: 6,418
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2007
Posts: 6,418 |
I agree, but good luck with that, since over half of the country is on some form of handout from .gov, and not likely to vote against its continuation, at least not until it collapses of its own weight.
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
|
|
|
|
Joined: Jul 2010
Posts: 1,950
Campfire Regular
|
Campfire Regular
Joined: Jul 2010
Posts: 1,950 |
One thing people don't understand, is when the debt gets to $20 trillion, the tax revenue will only cover the INTEREST on the debt. At that point, the fed is bankrupt, and hyperinflation will kick in so the government can pay back the debt with inflated dollars. Read up on the Weinmar Republic in Germany after WWI. They ended up in a depression in 1924 and Hitler in 1933.
|
|
|
|
Joined: Jul 2007
Posts: 6,418
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2007
Posts: 6,418 |
I'm very familiar with Weimar-ask anyone around here.
BTW, we are already bankrupt, especially if using GAAP rules, and the Fed's balance sheet is a joke. The government IS paying and servicing debt with inflated FRN$'s now, and it will accelerate this trend in the future as it's the only thing they can do to kick the can down the road for another election cycle or two.
We have reached over 100% debt to GDP, and 90% is generally considered to be the point of no return, as pointed out by Reinhart and Rogoff in their book "This Time is Different", which is the definitive study into government debt, and its consequences.
Collapse is inevitable, it's just a matter of when and how bad, and the longer we try and print our way out, the worse the results will be.
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
|
|
|
|
Joined: Dec 2005
Posts: 1,416
Campfire Regular
|
Campfire Regular
Joined: Dec 2005
Posts: 1,416 |
That original piece has it right, but they dropped a few lines.
Additional income (found change in seat cushion) $0.27
Expenditures: cat toys $1,756,018,800,000 congressional barbershop subsidy $904,320,000,000
How does anyone believe what the government/OMB tells us anymore if they don't include all the figures?
“You must endeavour to enjoy the pleasure of doing good. That is all that makes life valuable.” Robert E. Lee, in a letter to his invalid wife.
|
|
|
|
Joined: Jun 2009
Posts: 1,948
Campfire Regular
|
Campfire Regular
Joined: Jun 2009
Posts: 1,948 |
And to put a Trillion Dollars in perspective..... http://www.pagetutor.com/trillion/index.html
" He who refuses to do the arithmetic is doomed to talk nonsense" John McCarthy
|
|
|
|
Joined: Aug 2002
Posts: 2,585
Campfire Regular
|
Campfire Regular
Joined: Aug 2002
Posts: 2,585 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
Jobs that are paid for by money extorted from taxpayers. More like jobs paid for with money that does not actually exist.
|
|
|
|
Joined: Jul 2007
Posts: 6,418
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2007
Posts: 6,418 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
Jobs that are paid for by money extorted from taxpayers. More like jobs paid for with money that does not actually exist. There you go.
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
|
|
|
|
Joined: Nov 2009
Posts: 3,927
Campfire Tracker
|
Campfire Tracker
Joined: Nov 2009
Posts: 3,927 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
Jobs that are paid for by money extorted from taxpayers. More like jobs paid for with money that does not actually exist. There you go. We wuz robbed.
Keep your gun-hand ready and your eyes peeled.
|
|
|
|
Joined: Jul 2007
Posts: 6,418
Campfire Tracker
|
Campfire Tracker
Joined: Jul 2007
Posts: 6,418 |
More than once I'm afraid.
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
|
|
|
|
Joined: Jan 2006
Posts: 21,810
Campfire Ranger
|
Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
Jobs that are paid for by money extorted from taxpayers. Depends on how you look at the issue, but I'll bet some members of the Forum derive their income from such spending.
|
|
|
|
Joined: Dec 2002
Posts: 17,278
Campfire Ranger
|
Campfire Ranger
Joined: Dec 2002
Posts: 17,278 |
This puts the issue into prospective, but one has to realize that Federal expenditures are tied to jobs.
For example, the DOD budget buys planes, ships, tanks, rifles and uniforms, generating employment in Marietta (GA), Newport News (VA), Lima (OH), Columbia (SC) and, Los Angeles (CA).
If we cut the Federal budget (which we do need to do at some point) we all need to realize that jobs will be lost. Not at all. Government spending is malinvestment--that is, taking resources from productive sectors and transferring them to unproductive ones. (The proof of this is that it's coercive. If the money was being spent productively, it would produce a profit and investors would be falling all over themselves to spend it voluntarily.) Without those resources being confiscated from productive purposes, and with the burden of unproductiveness reduced, the economy will show much more health and many productive jobs will be created. Now if you're a professional bureaucrat whose job is to prevent people from doing productive things, that may not help you; but I think it's a good thing.
"But whether the Constitution really be one thing, or another, this much is certain--that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist." --Lysander Spooner, 1867
|
|
|
|
Joined: Jan 2006
Posts: 21,810
Campfire Ranger
|
Campfire Ranger
Joined: Jan 2006
Posts: 21,810 |
What about infrastructure (roads, bridges and harbors). It's generally a governmental activity which the private sector is unwilling (in virtually all cases) to invest. But, private trucking companies are sure willing to use it.
How about National Parks and Forests?
How about the Defense program?
|
|
|
|
679 members (10gaugemag, 007FJ, 01Foreman400, 117LBS, 10Glocks, 68 invisible),
2,912
guests, and
1,292
robots. |
Key:
Admin,
Global Mod,
Mod
|
|
Forums81
Topics1,193,642
Posts18,512,297
Members74,010
|
Most Online11,491 Jul 7th, 2023
|
|
|
|