Posted on 08/17/2011 8:12:52 AM PDT by jmaroneps37
Our current national debt is more than $14.4 TRILLION dollars and your personal share is more than $246,000! Using $40,000 as an average yearly income, this means our government has eaten through more than six years of our income.
If these numbers were the only debt piled on our heads it would be bad enough, unfortunately this $246,000 is only our share of the federal debt. Depending on the state you live in, your indebtedness can be much worse.
A new report from the Institute for Truth In Accounting (IFTIA) holds some disturbing news about how deep some states have fallen into the financial hole.
“ ….49 states have balanced budget requirements either in statute or in their constitution most don’t live up to either the letter or spirit of their fiscal responsibilities.”
Only Vermont has no constitutional requirement to operate on a balanced budget and it has had a decade of balanced budgets. Nevertheless, if you are tempted to think socialism means balanced books read on.
The combined indebtedness of the states is $1 TRILLION dollars! The five worst, as identified by the IFTIA, are Connecticut, New Jersey, Illinois, Hawaii and Kentucky.
The average citizen in these states owes an additional $23,000 because of the reckless vote buying policies of legislatures and governors. At the state level all of these states have been either totally or largely run by liberal Democrats for years. Illinois crying the “Blues”
Obama’s home state, the very deep blue Illinois is the worst financial wreck in America. Its deficit is just under $38 billion dollars placing it $10 billion deeper in debt than the largely blue New Jersey.
The only reason Illinois is not over $41 billion in debt…. gave Illinois a $3 billion handout in a “stimulus”…
(Excerpt) Read more at coachisright.com ...
That’s just like one night’s vacation tab for 0bama.
Check his arithmetic. According you my arithmetic, 14.4 trillion divided among 300 million people is 48,000 per person. Bad enough.
I'm trying to figure out that math. $14.4 trillion / 310 million people = $46,452, so that's not it.
According to Internal Revenue Service Data Book, 2010 141 million individual IRS returns were filed in FY 2010. $14.4 trillion / 141 million = $102,128 per tax filer.
Maybe by reversing the formula we can find the number of people the author is talking about. $14.4 trillion / $246,000 per person = 58,500,000 people counted, which really doesn't tell much about where the author got that number.
58,500,000 Citizens
+252,500,000 Illegals
_______________________
311,000,000 sheeples
Using $40,000 as an average yearly income, this means our government has eaten through more than six years of our income.
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