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American Government Spending & Debt Explained Very Simply.

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posted on Aug, 11 2011 @ 09:36 AM
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A very simple way to explain how the debt ceiling being raised is very bad financially, and will eventually end in financial bankruptcy for America. Sometimes the numbers are so huge, we need to see things on a smaller scale.

1. Take the actual numbers from our government's spending.
2. Remove the last 8 zero's and pretend the results are YOUR family budget.

• Total annual income: $21,700
• Amount of money spent: $38,200
• Amount of new debt added to the credit card: $16,500
• Outstanding balance on the credit card: $142,710
• Amount cut from the budget with recent "deal:" $385

Still heading toward bankruptcy & a global meltdown.
edit on 11-8-2011 by Blue_Jay33 because: (no reason given)




posted on Aug, 11 2011 @ 09:43 AM
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reply to post by Blue_Jay33
 
That's a nice way to look at it.

If

we cut spending or increased taxes by $16,500 per year, it would still take us 370 years to pay off the outstanding debt if we payed $385 per year against it. (not even allowing for interest.)

If the economy gets worse, so does our outlook in this situation.

We're screwed.


edit on 11-8-2011 by butcherguy because: (no reason given)



posted on Aug, 11 2011 @ 03:50 PM
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The whole thing is bs....the govt is NOT BANKRUPT even the least bit....the official Budget is also a lie.

All the evidence is freely available in the Comprehensive Annual Financial Report of your town, state, all the other towns, cities, counties, and states in the US and the US govt itself. They do not agree at all with the official Budget, they are totally in the black in every way. Yet you are being suffocated as they tell you they are broke.

cafr1.com...

cafr1.com...
edit on 11-8-2011 by CaptChaos because: (no reason given)



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