Posted on 12/30/2012 9:53:09 AM PST by Wuli
“Fiscal Cliff” in plain English
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
Now, let's remove 8 zeros and pretend it's a household budget:
* Annual family income: $21,700.00 * Money the family spent: $38,200.00 * New debt on the credit card: $16,500.00 * Balance on the credit card: $142,710.00 * Total budget cuts so far: $38.50
Got It ? ..... OK now,,,,,,,,,,,,
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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 the ceilings.
What do you think you should do .....
Raise the ceilings, or remove the sewage ?
Of course all the talk on this subject in Washington D.C. and in the media is about how to take more money out of our private hands and private economic choices so the pretense can continue that we have more money to spend on the political class's pet projects - for a awhile longer, while talk of cutting back on their excessive spending of our hard earned incomes is non-existent due to a sheepishly stupid GOP elite.
Most people do not even know of the existence of the deficit.
I talked to my ex, and told here that we are spending $1.80 for every dollar we bring in. She said “where did you get those numbers?”
She is not stupid, she is just a low information voter, and she gets her information from the MSM.
“Raise the ceilings, or remove the sewage ?”
ROTFLMAO
Absolutely perfect.
Maybe you could show the additional “revenue” that would be added in when the rich are taxed.
Can’t wait to see it after the 8 zeros are removed.
Very good illustrations.
Here is another way to look at Obama’s plan:
If he gets all he wants, 1.3 trillion will come in from new revenue over 10 years.
We currently spend more than 1 trillion more than we take in.
So in 10 years: 10 trillion new debt-1.3 trillion in new revenue = 8.7 trillion in new debt on top of the current 16 trillion.
Well put
Raise the ceilings, or remove the sewage ?
How about packaging the sewage in sewage backed securities (SBS)
, sell these securities to Wall Street brokers at a discount?
Wall Street could slice and dice them up and do some creative re-packaging of their own and make a killing.
Maybe we could even get a government agency to guarantee all SBS transactions so that SBS creators are protected.
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