Debt Crisis in Everyday Terms

  • Posted by a hidden member.
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    Oct 16, 2012 4:31 PM GMT
    The following illustration cuts through all the political doubletalk we get. It puts our fiscal problems into a much better perspective.

    Lesson # 1:

    * U.S. Tax revenue: $2,170,000,000,000
    * Federal 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 from all above numbers 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 household 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 ceiling.

    What do you think you should do?

    Raise the ceilings, or pump out the crap?

    Your choice is coming November 6.
  • Posted by a hidden member.
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    Oct 16, 2012 4:40 PM GMT


    Fascinating. Can you show us the figures, just like that, for 2007?

    -intrigued
  • GQjock

    Posts: 11649

    Oct 16, 2012 5:04 PM GMT
    Lesson #3 ...... Never trust a republican

    Now that budget deficit that you're touting?
    Where did it spring from?

    That's right a republican who we don't even have to mention
    and why did it grow?
    Oh I dunno .... tax giveaways unfunded wars that we didn't need?
    A Drug benefit that mainly benefitted the Pharmaceutical companies?

    Time to get real republicans

    Oh and The Mittster Plan?
    WHERE ON EARTH DOES MORE TAX RIGHT OFFS FOR TOP EARNERS AND MORE FOR THE MILITARY MEAN SMALLER DEBT?????

    Math people MATH icon_rolleyes.gif

    Oh and the 6 studies that Mitt and Ryan always cite are a conglomeration of right wing bloggers and right wing shills

    Carry on icon_wink.gif
  • Posted by a hidden member.
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    Oct 16, 2012 7:49 PM GMT
    When they don't like the message, they bitch and whine and assasinate the character of others. Confiscating everyone's total wealth wouldn't even solve anything, unless congress reduced it's spending. But it's easier to blame others.
  • musclmed

    Posts: 3279

    Oct 16, 2012 7:56 PM GMT
    GQjock saidLesson #3 ...... Never trust a republican

    Now that budget deficit that you're touting?
    Where did it spring from?

    That's right a republican who we don't even have to mention
    and why did it grow?
    Oh I dunno .... tax giveaways unfunded wars that we didn't need?
    A Drug benefit that mainly benefitted the Pharmaceutical companies?

    Time to get real republicans

    Oh and The Mittster Plan?
    WHERE ON EARTH DOES MORE TAX RIGHT OFFS FOR TOP EARNERS AND MORE FOR THE MILITARY MEAN SMALLER DEBT?????

    Math people MATH icon_rolleyes.gif

    Oh and the 6 studies that Mitt and Ryan always cite are a conglomeration of right wing bloggers and right wing shills

    Carry on icon_wink.gif



    The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office.

    If you allow Obama to blame his debt, on Bush. You must allow Bush to blame debt on Clinton

    its a shell game that Clinton gave us a surplus, and all of the Debt know has to do with the Bush years.
  • Posted by a hidden member.
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    Oct 16, 2012 9:10 PM GMT
    GQjock saidLesson #3 ...... Never trust a republican



    I am not a Republican, and I never said it was solely your parties responsibility.
    Get your panties out of a wad and do try to learn something occasionally.
  • Posted by a hidden member.
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    Oct 16, 2012 11:32 PM GMT
    http://www.washingtonpost.com/blogs/ezra-klein/post/the-government-is-not-a-household-and-shouldnt-be-run-like-one/2011/04/13/AF21jOjD_blog.html
  • Posted by a hidden member.
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    Oct 16, 2012 11:36 PM GMT
    http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html?_r=0First, families have to pay back their debt. Governments don’t — all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation.

    Second — and this is the point almost nobody seems to get — an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.


    US%20Debt.jpg

    So yeah, eventually dad will have to pay money back to mom, maybe. But if he earns more, that debt could become irrelevant.
  • TroyAthlete

    Posts: 4269

    Oct 17, 2012 12:08 AM GMT
    Blakes7 saidConfiscating everyone's total wealth wouldn't even solve anything


    Good thing nobody's proposing that.

    P.S. Scare tactics only work when they seem reasonable.
  • coolarmydude

    Posts: 9190

    Oct 17, 2012 3:26 AM GMT
    GOP%20built%20the%20debt.jpg
  • Posted by a hidden member.
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    Oct 17, 2012 10:04 PM GMT
    yourname2000 saidThis is such a specious argument in favour of voting for Romney.


    Where did I advocate voting for Romney would solve the debt?

    Knee-jerk much?
  • Posted by a hidden member.
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    Oct 17, 2012 10:11 PM GMT
    [quote][cite]StudlyScrewRite said[/cite]
    yourname2000 saidThis is such a specious argument in favour of voting for Romney.


    Where did I advocate voting for Romney would solve the debt?"


    GREAT POINT! VOTING FOR MITT WILL NOT SOLVE THE DEBT.
  • Posted by a hidden member.
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    Oct 17, 2012 10:14 PM GMT
    TAX THE RICH! SEIZE IT ALL BITCHES!!
  • Posted by a hidden member.
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    Oct 17, 2012 10:19 PM GMT
    mocktwinkles saidTAX THE RICH! SEIZE IT ALL BITCHES!!


    Hmmmm...all-or-nothing approaches are rather the stuff of children, don't you think? icon_wink.gif

  • Posted by a hidden member.
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    Oct 17, 2012 10:22 PM GMT
    In 2000, when Bush took the reins, your country's debt was about 5.8 trillion. By the time Obama took office, it had increased to nearly 10 trillion, almost double.

    Beginning 2009 to today it went from nearly 10 trillion to about 13, which is a lot less a percentage increase than the prev gov't. If that trend were to continue another four years the increase would still be a lower percentage than the prev gov't's percentage increase.
  • Posted by a hidden member.
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    Oct 17, 2012 10:43 PM GMT
    Only a combination of getting the American people to agree with both massive cuts and significant tax increases will get us out of our problems...Sadly...
  • Posted by a hidden member.
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    Oct 17, 2012 11:06 PM GMT
    mocktwinkles saidOnly a combination of getting the American people to agree with both massive cuts and significant tax increases will get us out of our problems...Sadly...


    YES! At least that's the conclusion I've come to as well.

    And for that reason, I'M VOTING FOR PRESIDENT OBAMA:

    We are going to face AUSTERITY---cuts in programs and tax increases. Our President needs the ability to reassure 100% of us that we will get through this TOGETHER. In this regard, I think Mitt has disqualified himself(WITH AT LEAST 47% of the country).

    Our economy is recovering and will continue to do so(SLOWLY) under either presidential choice.

    But I believe that President Obama has the far greater ability to guide us with some sense of unity.

    The Right, IF IT WANTS TO PARTICIPATE IN OUR RECOVERY, could do its part by stopping with the nonsense of the past 3 years:

    STOP the Kenyan, Muslim Bullshit.

    Stop the Death Panel Bullshit.

    IT IS TIME FOR AMERICA TO UNITE. We can still argue about the approaches-----but the dishonesty that the RightWing has traded in HAS GOT TO STOP !