So many times we hear about the financial woes of the USA, but it truth, it is really hard to figure out what is actually going on. I mean, the numbers are so big that nothing makes much sense. In truth, everything we hear is alarming and appears to be ridiculous. So what I did is run down one person's way of putting it all together.
Here is why S&P downgraded the US credit rating.
• U.S. 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 budget cut: $ 38,500,000,000
• U.S. 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 budget cut: $ 38,500,000,000
Now let’s 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: $385
• 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: $385
I have many times said humans don't get scale, and they don't get the exponential function but these figures hit it on the head. So what does this have to do with a revolution. Lots, I reckon. If the public gets a drift that our elected leaders are doing this they might become unglued.
Of course, the same thing is happening in Greece and the rest of Europe (particularly Germany) wants them to sell their country to them to pay off the debts and in the process give up their sovereignty. I just don't think that will fly and the bricks will begin to fly----oh, they already are but we don't see it in our mainstream news. Interestingly, our debt, and trillions of it, are held by China and oil states. I'm not liking this.
"I wish it were possible to obtain a single amendment to our Constitution - taking from the federal government their power of borrowing."Thomas Jefferson, 1798
"When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes... Money has no motherland; financiers are without patriotism and without decency; their sole object is gain."Napoleon Bonaparte, 1815
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