Friday, February 10, 2012

Here’s how to understand our financial swamp! Your house owes at least $1,195,000!

By John Sykes

Do you have trouble picturing the financial mess we are in? Do you have any trouble figuring out how to get rid of this financial sewage that is burying us? Read on and learn these lessons. By the way, these are fairly recent figures. The picture is considerably worse now. And these figures show the horrible true National debt that includes entitlement program obligations …

Lesson # 1:
* U.S. Tax revenue: $2,302,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $1,298,600,000,000
* National debt: $15,476,000,000,000
* True National Debt $119,500,000,000,000
* Recent budget cuts: $38,500,000,000

Let's now remove 8 zeros and pretend it's your household budget:
* Annual family income: $23,020
* Money the family spent: $38,200
* New debt on the credit card: $12,986
* Outstanding balance on the credit card: $154,760
* True national debt on the credit card: $1,195,000
* Total budget cuts: $385

You want to get even more upset. When you figure that only 50% of this country pay any income taxes, your house is going to have to come up with at least $2,390,000 if somebody tries to collect your true bills tomorrow!

So now what do we do?

Lesson # 2: Another way to look at the Debt Ceiling:

Let's say you come home from work and find there’s been a sewer backup in your neighborhood and your house has sewage all the way up to your ceilings. What do you think you should do....

(A) raise the ceilings, or (B) pump out the crap?

Your choice is coming Nov. 2012

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