National Debt - Another way to look a...

National Debt - Another way to look at it

Posted in the Utica Forum

Debt Ceiling

Boca Raton, FL

#1 Oct 20, 2013
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 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:$385
Got it????

OK now…
Here’s another way of looking 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 ceiling or remove the sh&#?
Yep

New York, NY

#2 Oct 21, 2013
There is a great video that goes with this.... Not sure when this country is going to wake up!!

Right Wing Morons

Ithaca, NY

#3 Oct 21, 2013
That would make a lot of sense, if your average household could borrow money at incredibly low rates, and was assumed to be immortal.
Yep

New York, NY

#4 Oct 22, 2013
Yet over $220 Billion yearly in interest payments dwarfs other government spending....

http://www.usnews.com/news/articles/2012/11/1...

Also the article above identifies:

"low interest rates will eventually disappear as the economy recovers. And if investors should decide that U.S. debt is a risky investment, that would also drive interest rates up, making U.S. debt increasingly difficult to manage. Credit rating agency Moody's earlier this year warned that it might downgrade the rating on U.S. debt if lawmakers do not find a way to avoid the coming fiscal cliff. A downgrade could go a long way toward driving up interest rates."
Truth

Utica, NY

#5 Oct 22, 2013
Right Wing Morons wrote:
That would make a lot of sense, if your average household could borrow money at incredibly low rates, and was assumed to be immortal.
Spoken like a true clueless, liberal Obama apologist.
Could you be any more wrong? I doubt it.

The US credit rating is being downgraded around the world and it wasn't just because of the shutdown and it certainly wasn't because of the Republicans who were trying to stop the madness that is the government borrowing.

Take a look at this example:
"The agency suggested that, while a default has been averted by a last minute agreement in Congress, the fundamental situation of debt growth outpacing fiscal income and GDP remains unchanged."
from:
http://www.reuters.com/article/2013/10/17/idU...

What happens when US Treasury Bonds aren't the good investment they used to be? Interest rates paid on them go up in order to attract investment. When interest rates(interest that has to be paid to bondholders eventually)go up, the debt increases and makes the situation worse until a time when no one wants to buy the bonds anymore because the US has exceeded its' ability to pay completely.

Some level of debt is okay and maybe in some ways desirable but the level of debt we are headed for is a recipe for disaster.
Lefty Larry Syracuse

Syracuse, NY

#6 Oct 22, 2013
Yep wrote:
There is a great video that goes with this.... Not sure when this country is going to wake up!!
http://www.youtube.com/watch?v =0YJLbA_1peEXX
the correct belch is "Wake Up America!" followed by repetitious, expulsion of right wing intestinal gasses. You're slippin' there sparky. Not surprising I guess. Last week was a bad one for the tea baggers but still, try to keep up....and I'm sleeping quite well these days thanks. LOL
Typical Liberants

Miami, FL

#7 Oct 22, 2013
Lefty Larry Syracuse wrote:
<quoted text>
the correct belch is "Wake Up America!" followed by repetitious, expulsion of right wing intestinal gasses. You're slippin' there sparky. Not surprising I guess. Last week was a bad one for the tea baggers but still, try to keep up....and I'm sleeping quite well these days thanks. LOL
Lay off the crack and stay with the subject. By your own idiotic "point" wasting 220N a year in interest is "fine" and that the government is "indefinite" that's an excuse for liberals to run the debt up so high the great grandkids will be paying it.

Typical democrats, progressives and liberals. Deny truth, change the parameters of the discussion and then talk about yourself and how YOU feel.

Predictable as rain.
Lefty Larry Syracuse

Syracuse, NY

#8 Oct 22, 2013
Typical Liberants wrote:
<quoted text>Lay off the crack and stay with the subject. By your own idiotic "point" wasting 220N a year in interest is "fine" and that the government is "indefinite" that's an excuse for liberals to run the debt up so high the great grandkids will be paying it.
Typical democrats, progressives and liberals. Deny truth, change the parameters of the discussion and then talk about yourself and how YOU feel. Predictable as rain.
Sure. predictable as rain... predictable as the last 2 POTUS elections? predictable as the defeat of the ACA? Predictable as the Supreme Court's ACA ruling? Predictable as defunding the ACA? Predictable as tea baggers digging their own grave? Argue all you want tea bagger. Your time has predictably come & gone. Learn how to lose... or not. Your relevance is over now.
Shameful Truth

Rome, NY

#9 Oct 22, 2013
Yep wrote:
Yet over $220 Billion yearly in interest payments dwarfs other government spending....
http://www.usnews.com/news/articles/2012/11/1...
Also the article above identifies:
"low interest rates will eventually disappear as the economy recovers. And if investors should decide that U.S. debt is a risky investment, that would also drive interest rates up, making U.S. debt increasingly difficult to manage. Credit rating agency Moody's earlier this year warned that it might downgrade the rating on U.S. debt if lawmakers do not find a way to avoid the coming fiscal cliff. A downgrade could go a long way toward driving up interest rates."
And who do "we" pay all that interest to? THE FCKIN FEDERAL RESERVE BANK- A PRIVATE, foreign-owned, for profit, NON-TAX-paying organization! Where does the U.S. federal govt (a private business CORPORATION) get/borrow the money to fund all these criminal ideas, programs and operations??? THE FED! WHY was the illegal, unconstitutional, BOGUS I R S sureptitiously created? To scam hard-working AMERICANS of the U.S.A.(different than the U.S.)out of their insufficient earnings to PAY down the INTEREST only on all this "DEBT". Where does THE FED get all the (endless supply) money it lends to the U.S. Govt? It creates it out of nothing/thin air- valueless pieces of paper "currency" and bank notes simply printed/made up out of theoretical values. Who OENS and controls the U.S. federal govt and thereby our AMERICAn lives and livelihoods? THE FED! Destroy the fed bank and begin the LONG road to reclaiming our nation. WHy won't our "leaders" do something to stop this criminal absurdity? They can't, they won't- not 99% of them anyhow- because they are EMPLOYED by the U.S. federal corporation (i.e. the Fed) and NOT YOU AND ME! EVERYTHING you know, believe you know and are led to believe by the corporation and its employees and its news media is a TOTAL LIE. THEY assume and expect (rightfully so) that the vast majority of you will NOT question and just go along with the corporate "program", and it's worked like a charm.

(There's so much MORE to this factual story and unfortunately it's NOT as simple as "let's just outlaw the fed". Although in theory that should work.Do your own research for more info.)

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