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Old 07-21-2012, 11:54 AM
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motordavid motordavid is offline
RetiredBum & Semi-RenaissanceMan
 
Join Date: Mar 2005
Location: Mtns of Western NC, & SW FLA
Posts: 16,754
motordavid will become famous soon enoughmotordavid will become famous soon enough
Paring Knife? We Need a Butcher Knife...

Or, maybe a chain saw, or some elected idiots that actually understand the problem, are willing to deal with it, and will go to the mat to make some semblance of addressing the problems. I can hardly stand any of them, and the system is fooked, but I always hope.

While we are all busy shopping, buying, spending and trying to get 'the econ' back in shape, (Consumer spending is ~60%+ of the US GDP), here is a little 'balance sheet' done in numbers most of us understand. Even for the over spenders, one would admit few run a household like the Fed gov't does.

I realize they can print all the money they want to/have to, but the Piper is not getting smaller, (actually much larger), and that Piper is not going away...

Suppose this was your household budget:

• Annual family income………………....$23,400

• Money family spends annually….....$35,900

• New debt added to credit cards……$12,500

• Outstanding credit card balance ..$154,000

• Total cuts to family budget………….......$385

Looks like the budget from hell, right? This household with its skyrocketing debt stands precariously on the brink of bad credit, bankruptcy, and ruin.

Now add 8 zeros to all of the above numbers, and you have the current U.S. federal budget (World Magazine, May 19, 2012).

Or shall we say the current financial situation of the United States...
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