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Thread ID: 119704 2011-08-06 05:32:00 USA Debt Happy Harry (321) PC World Chat
Post ID Timestamp Content User
1221192 2011-08-06 23:58:00 Found this on the net the other day: zqwerty (97)
1221193 2011-08-07 00:08:00 Looks like the jpg of truth is out by a few trillion dollars. Metla (12)
1221194 2011-08-07 01:13:00 Huh????

It is for 2010, $13,562 Billion approx = to 14 Trillion isn't it?

The debt for 2011 is just over $14 Trillion now isn't it? 		zqwerty (97)
1221195 2011-08-07 01:26:00 Its the "quantitative easing" stimulus policy that has me most concerned, QE1,QE2 and soon QE3.

These are fancy words for flat out "printing money"

The mainstream media don't seem to like using the words "printing money", mind due the entire financial system is nothing more than a giant unregulated Casino and nothing has changed since 2008, hold onto your seats for round two of the world financial crisis. 		Battleneter2 (9361)
1221196 2011-08-07 01:43:00 Yep massive inflation plus stagnation on the way courtesy of the right wing capitalists and their ridiculous policies from about 1980 onwards. zqwerty (97)
1221197 2011-08-07 01:56:00 Huh????

It is for 2010, $13,562 Billion approx = to 14 Trillion isn't it?

The debt for 2011 is just over $14 Trillion now isn't it?

:lol:

My bad.

Numbers are confusing. 		Metla (12)
1221198 2011-08-07 03:13:00 For your consideration . ;)

A simple explanation of Federal Budget

The U . S . Congress sets a federal budget every year in the trillions of dollars . Few people know how much money that is so we created a breakdown of federal spending in simple terms . Let's put the 2011 federal budget into perspective:

U . S . income: $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 cut: $ 38,500,000,000 (about 1 percent of the budget)
It helps to think about these numbers in terms that we can relate to .

Let's remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family .

Total annual income for the Jones family: $21,700

Amount of money the Jones family spent: $38,200
Amount of new debt added to the credit card: $16,500
Outstanding balance on the credit card: $142,710
Amount cut from the budget: $385
So in effect last month Congress, or in this example the Jones family, sat down at the kitchen table and agreed to cut $385 from its annual budget . What family would cut $385 of spending in order to solve $16,500 in deficit spending?

It is a start, although hardly a solution .

Now after years of this, the Jones family has $142,710 of debt on its credit card (which is the equivalent of the national debt) .

You would think the Jones family would recognize and address this situation, but it does not . Neither does Congress .

The root of the debt problem is that the voters typically do not send people to Congress to save money . They are sent there to bring home the bacon to their own home state .

To effect budget change, we need to change the job description and give Congress new marching orders .

It is awfully hard (but not impossible) to reverse course and tell the government to stop borrowing money from our children and spending it now . .

In effect, what we have is a reverse mortgage on the country . The problem is that the voters have become addicted to the money . Moreover, the American voters are still in the denial stage, and do not want to face the possibility of going into rehab .



"Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety"

Benjamin Franklin 1755 ;) 		B.M. (505)
1221199 2011-08-07 03:44:00 .Spending money we don't have on things we don't need to impress people we don't know.

Well said! 		andrew93 (249)
1221200 2011-08-07 03:47:00 @BM : that is easier to understand. We should do the same for NZ. andrew93 (249)
1221201 2011-08-07 03:47:00 Wow thanks for your summary B.M., that was really easy to understand forrest44 (754)
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