The Federal Budget (simplified)

[Guest nicemac]

If the Federal government were scaled down to the size of the average US household, here’s what its finances would look like:

• The Federal government would earn $50,000 a year in tax revenue (the same as the average US household).
  
• It would be $325,000 in debt.
  
• It would pay almost $10,000 a year in interest on that debt.
  
• Last year, it would have spent $79,000.
  
• This year, it is hoping to spend $86,000.
  
• The $100 billion in spending cuts (that some politicians view as draconian) would be equivalent to the household cutting its $86,000 in planned spending down to a mere $83,700. Not a bad start, but the household has another $33,700 to go before it balances its budget.
  

From: Just how broke are we? | RedState

[Motasyco]

Yikes! If my finances were like that, I'd be expecting bill collectors to be knocking at my door anytime. On a national scale, they may not knock.

[vontar]

On a national scale, they may not knock.

Probably because currently we have more guns then anyone else and we have a trust worthy face.

[-boatman-]

Yikes! If my finances were like that, I'd be expecting bill collectors to be knocking at my door anytime. On a national scale, they may not knock.

I think they would have already been knocking.

[Guest 6.8 AR]

You think China isn't?

[mav]

[*]The $100 billion in spending cuts (that some politicians view as draconian) would be equivalent to the household cutting its $86,000 in planned spending down to a mere $83,700. Not a bad start, but the household has another $33,700 to go before it balances its budget.

Yes, the budget is balanced in the sense that you don't spend more than you make. However, it is not taking into account the existing debt and the interest on that debt. Therefore, you have to make additional cuts in order to start paying down the debt. Unless we start paying off our current debt, a balanced budget is not enough. It still leaves us going in the wrong direction.

The thing that ticks me off about the whole situation is this is nothing more than a Ponzi scheme. Bernie Madoff went to prison over doing this type of crap and our politicians don't even get a slap on the wrist. Go figure.

[Guest mikedwood]

I've been staring at the debt clock for a few minuites the last few nights, it's more scary than any horror movie I have ever seen.

U.S. National Debt Clock : Real Time

I'm no financial genuis for sure but........... I certainly don't understand this "debt is income" mentality. They are apparently over spending by a 3rd. Local, state and federal income is a tad over 30% of GDP leaving less than 70% for everything else. And government spending is at 46% of GPD currently (or probably pretty close) So we need a tax rate of 50% so they can keep spending? For freakin what? It's insane!

Toilet!

[mcurrier]

Probably because currently we have more guns then anyone else and we have a trust worthy face.

Exactly what I've been thinking, which makes it their next 'problem' to overcome. If they ever do, there goes the last truly free country on the planet, hello slavery.

[hardknox00001]

The real kicker for me is related to this on a local scale. Everybody is jumping up and down to cut the spending, so they start mentioning what they are going to cut, then everybody starts screaming like little pigs "we can't cut that, that's important and we can't do without that".

Example, tonight on the tv news in Nashville there was a story about the Shelbyville City commissoners talking about cutting the budget by reducing or totally doing away with garbage pickup. The story went on to say there were people lined up out the door to protest. I don't know about the rest of you but I do not have garbage pickup at my house and I continue to live. I take my garbage to the local county dumpster and put it in there........ GASP!! The real fun part is that the dumpsters are usually on the way to something else, so they are not out of the way.

So what's the point of this little dribble.............we can talk about cutting budgets all day long but, until we actually decide that we are going to do it and adapt to the outcome, it will never happen. Somebody is going to get cut somewhere, who is going to be first. If they want to cut some service that I have now, and I don't have many out here in the sticks, I believe I'd be man enough to see the bigger picture and take it like a man.

On the national scale, you have to get past the corruption/support from all the different interest groups of all the congress men and senators. I don't see that happening. They'll be in favor of cutting stuff from everybody elses state but let somebody talk about cutting something in their state, expect to hear screaming piggies.........

/END RANT

[Guest 6.8 AR]

Well, what is the governor in Wisconsin trying to do? What happened over the last few days?

Anyone paying attention to that little problem brewing? You better be able to take on a lot of power

and lies if you want to be so bold. Every union in Wisconsin has it's rank and file bitching and picketing

for no reason, except to create a diversion for something you will not want to hear about. Take a stab.

There is a revolt in the brewing phase right now, if you open your eyes. It's being orchestrated by

very powerful people and the Democrats in that state are such cowards they left instead of voting.

Things like this happening in Wisconsin will easily spill over into any other state with a debt problem.

How many are like that?

How much of this will it take? Add the problem in Mexico. The coming energy crisis we seem to be

kind of laughing away and sneering about Obama, who is the one responsible for it.

You have someone trying to do something about his budget. You had better be paying attention to

his problems because they will soon be yours and mine. There is a lot of evil at work here, also.

Joke about Obama and his minions that they might as well be Republicans. Get off the nitrous soon,

please.

[Guest nicemac]

The real kicker for me is related to this on a local scale. Everybody is jumping up and down to cut the spending, so they start mentioning what they are going to cut, then everybody starts screaming like little pigs "we can't cut that, that's important and we can't do without that".

Example, tonight on the tv news in Nashville there was a story about the Shelbyville City commissoners talking about cutting the budget by reducing or totally doing away with garbage pickup. The story went on to say there were people lined up out the door to protest. I don't know about the rest of you but I do not have garbage pickup at my house and I continue to live. I take my garbage to the local county dumpster and put it in there........ GASP!! The real fun part is that the dumpsters are usually on the way to something else, so they are not out of the way.

Hmmm, I have NEVER paid for garbage pickup, although several private businesses pick up in my part of the county. I go to the "convenience center" about once a week to dump my trash. Saves me about $50 a month (several boxes of ammo). I would never have thought about a municipality providing trash pickup for "free." WHY would any city/county government be in that business in the first place?