US Economics... Understood! - BMW Luxury Touring Community
 
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post #1 of 16 Old Nov 18th, 2011, 12:15 pm Thread Starter
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US Economics... Understood!

Never understood U. S. Economics... I guess just too much BS and too many zero's. So someone sent me this... And even if the numbers are not right (altho they do seem close), it tells a story I have a better chance to understand.

Again, not my numbers... However, maybe all discussions of large, ungraspable (is that even a word?) numerical hogwash should be dealt with in a way that more of us "common" po' folk can understand...

Can you imagine running a country using these numbers?

United States Tax revenue: $2,170,000,000,000
Fed budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000 Recent
Proposed Budget Cut: $ 38,500,000,000

Now, remove 8 zeros and pretend it's a household budget.

Annual family income: $21,700
Money the family spent: $38,200
Total new debt on two credit cards: $16,500
Outstanding balance on both credit cards: $142,710
Total budget cuts: $385


Ya know... it kinda brings things into perspective, doncha think? Has me saying.... WTF????

Maybe this post should be in the Humor section... Had me laughing... for about ten seconds...

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post #2 of 16 Old Nov 18th, 2011, 7:15 pm
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Re: US Economics... Understood!

Here's a great way to visualize that debt - note that the last scene is actually not correct, the height of the stack is much, much higher. It was done that way to more correctly illustrate the size of the other buildings.

US debt visualized: Stacked in 100 dollar bills


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post #3 of 16 Old Nov 18th, 2011, 8:03 pm
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Re: US Economics... Understood!

Mark,

That is from Ron Paul, he published it 4 or 5 months ago. I took the time to look the numbers up. ( the first set) and they are right from the GAO.

I am thinking about asking my bank for a loan.

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post #4 of 16 Old Nov 18th, 2011, 8:35 pm
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Re: US Economics... Understood!

Where is the like button.

Just Go
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post #5 of 16 Old Nov 18th, 2011, 8:43 pm
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Re: US Economics... Understood!

I was looking at that with the thought: that can easily happen to anyone in college right now. The budget is not sooooo out of this world. At the same time, when it come to the budget cuts the mind goes: WTF?

And then of course if that is someone in college with a say student loan, everybody expects them to be able to pay it back later when they make more money. The question now is: how are we going to make more money?


Oh, and please qkeep the partisan politics at home.

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post #6 of 16 Old Nov 18th, 2011, 9:31 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by andy
Oh, and please qkeep the partisan politics at home.
No need for partisan politics. They're ALL concerned with one thing: getting re-elected....

Actually, it's worse than Mark's numbers. Counting deficit spending and entitlements (present and future), the actual national debt is about $140,000.00 per person.

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post #7 of 16 Old Nov 19th, 2011, 9:11 am
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Re: US Economics... Understood!

Here's an interesting chart on who actually holds the debt:


http://upload.wikimedia.org/wikipedi...es_by_year.gif

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post #8 of 16 Old Nov 19th, 2011, 9:45 am
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Re: US Economics... Understood!

Quote:
Originally Posted by pickerbiker
Here's an interesting chart on who actually holds the debt:


http://upload.wikimedia.org/wikipedi...es_by_year.gif
It's even worse. Since people/governments, etc. are not buying like they used to, the Fed will continue to hold the debt for the money they create (out of thin air).

That's like me printing my own money. Wait - they send me to jail for that....

Brian
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post #9 of 16 Old Nov 27th, 2011, 9:42 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by andy
I was looking at that with the thought: that can easily happen to anyone in college right now. The budget is not sooooo out of this world. At the same time, when it come to the budget cuts the mind goes: WTF?

And then of course if that is someone in college with a say student loan, everybody expects them to be able to pay it back later when they make more money. The question now is: how are we going to make more money?


Oh, and please qkeep the partisan politics at home.
Andy, you're right on the money. The staggering student loan dept, blowing up like a balloon and virtually impossible to pay off is this "new" job market, will be the next economic "crises" bubble. Remember, student loans are NOT dischargeable in BK.

"Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." (Some really OLD friggin' White dude who couldn't have possibly known what he was talking about!) WARNING: Official HATE speech!
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post #10 of 16 Old Nov 28th, 2011, 10:35 am
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Re: US Economics... Understood!

....Don't we fund foreign aid to educate other countries children in American Universities in order to create a higher educated lower cost work force for outsourcing purposes, while gouging American families for education with fewer prospects for employment. Are we in the name of profit, cutting our own throats?

Seems like the whole thought process is wrong. Instead of spending cuts how about start at zero and add the most critical one at a time and see what doesn't get added before you hit the spending limit? Then negotiate what other things you want to add by cutting what's already there, then when the clock runs out, where ever you stand, that's what gets funded and by how much. Forget the super committee, just a bunch of partisan hacks. ..... just sayin'

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post #11 of 16 Old Nov 28th, 2011, 10:31 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by BennyBob
....Don't we fund foreign aid to educate other countries children in American Universities in order to create a higher educated lower cost work force for outsourcing purposes, while gouging American families for education with fewer prospects for employment. Are we in the name of profit, cutting our own throats?

Seems like the whole thought process is wrong. Instead of spending cuts how about start at zero and add the most critical one at a time and see what doesn't get added before you hit the spending limit? Then negotiate what other things you want to add by cutting what's already there, then when the clock runs out, where ever you stand, that's what gets funded and by how much. Forget the super committee, just a bunch of partisan hacks. ..... just sayin'
You're going to think I made this up, Benny, BUT: in Kommyfornia, Gov "Moonbeam" (for us OLD M/F'ers who remember) just signed a bill that allows illegals access to taxpayor education funds.....

"Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." (Some really OLD friggin' White dude who couldn't have possibly known what he was talking about!) WARNING: Official HATE speech!
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post #12 of 16 Old Nov 29th, 2011, 9:49 am
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Re: US Economics... Understood!

Quote:
Originally Posted by BennyBob
Instead of spending cuts how about start at zero and add the most critical one at a time and see what doesn't get added before you hit the spending limit?
Sounds great.

But first, we have to define the word "critical". And before we can do that, we have to decide who gets to define it . . .

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post #13 of 16 Old Nov 29th, 2011, 6:32 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by meese
Sounds great.

But first, we have to define the word "critical". And before we can do that, we have to decide who gets to define it . . .
I'll volunteer I'll do it all by myself too & get it done in record time That's all the time I need.

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post #14 of 16 Old Nov 29th, 2011, 7:44 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by meese
Sounds great.

But first, we have to define the word "critical". And before we can do that, we have to decide who gets to define it . . .
Very good, Ken. "Critical" is a word that needs to be removed from our (post) PC America. It's very offensive word suggesting that some causes or even some people MIGHT be more important than any other(s). Let that be a lesson to us!

"Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." (Some really OLD friggin' White dude who couldn't have possibly known what he was talking about!) WARNING: Official HATE speech!
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post #15 of 16 Old Nov 30th, 2011, 9:54 am
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Re: US Economics... Understood!

Quote:
Originally Posted by jayjacobson
Very good, Ken. "Critical" is a word that needs to be removed from our (post) PC America. It's very offensive word suggesting that some causes or even some people MIGHT be more important than any other(s). Let that be a lesson to us!
Why Jay, I'll bet your one of those cold & heartless bastards that still calls them "Bums" or "Pan-handlers" instead of Urban Outdoorsmen!

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post #16 of 16 Old Nov 30th, 2011, 12:27 pm
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Re: US Economics... Understood!

Quote:
Originally Posted by meese
Sounds great.

But first, we have to define the word "critical". And before we can do that, we have to decide who gets to define it . . .
True, but if you gave a list of the elements to 20 people and had them list in order of importance, some would commonly be important where others would widely vary depending on party affiliation and/or personal experience. Getting the commonly agreed upon items in the bucket would be easy. Negotiating the rest would be the sticky wicket, they would have to really work on managing costs to add those.

i.e. Social security the whipping boy and sacred cow that it is, could be managed by no cuts for current recipients or those within 5 years of eligibility and then start restructuring for those farther out based on opportunity for them to plan alternative sources to control the cost but still provide reasonable benefits structured for those who need, in a labor force that is shrinking. It's not rocket science, it's compassionate capitalism.

If Congress had the same pension, health care, and qualification/vesting requirements as Joe employee has, they would find ways to effectively fix it rather quickly. The fact that they are exempt due to their elite status and self serving approach, breeds waste.

If I had a pension and non contributory health care for life plus a pay raise every year unless I voted against it, my incentive to make hard decisions that might effect my reelection bid would probably be about the same as our elected heroes. Their beds are too soft for them to relate.

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Last edited by BennyBob; Nov 30th, 2011 at 12:32 pm.
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