Putting America's Tax Hike In Perspective (This one picture tells us where the real problem is)

Zero Hedge ^ | 01/01/2013 | Tyler Durden

[SeekAndFind]

One of those occasions when one picture really does speak a thousands words.

Houston, we may have a spending problem.

[freedumb2003]

If you include the deficit, the 17” tall red bar (pretty accurate) would have to be 119” (over 9 feet!).

[PGalt]

Socialists plundering the United States of America. The enemy within. Totalitarian "next steps" (FORCE) are taken daily (Obamacare). Congress in session during the years end and into the new year to FORCE Americans to give them money (our time of life). 535 totalitarians using the FORCE of legislation / law to perpetuate plunder.

The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it. - Bastiat (more than 160 years ago)

[brityank]

Swiped this off the innertube someplace:

“Fiscal Cliff” put in a much better perspective:

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 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 remove the sh*t?

[uncommonsense]

Forget the $16 trillion in debt we owe (it would be more if the fed gov used GAAP accounting like public companies are required to use) - we have over $100 trillion in unfunded liabilities and states have over $6 trillion in debt and unfunded liabilities. How do we pay for these liabilities when we don’t have enough operating income to pay for daily expenses? The answer is simple - we don’t ...