Bush and Paulson and then came Obama and Geitner. Our spending is OUT OF CONTROL!

[PHILIP SCHNEIDER]

Does ANYBODY really believe that profligate spending will cure ANYTHING? Has all that spending really accomplished anything . . . . . besides supplying huge amounts of political patronage??? It boggles my mind the dollar figures involved!!!

A SIMPLER UNDERSTANDING OF OUR BUDGET 

  

2011 Federal Budget:      

 $3,820,000,000,000 

  

Income:                         

 $2,170,000,000,000 

 

New Debt                      

$1,650,000,000,000

 

Amount Cut                   

$     38,500,000,000 – about 1% of the total budget

Put this in real perspective. It helps to think about these numbers in terms that we can relate to. Remove nine zeroes from those numbers and pretend this is a monthly household budget for a family.

Amount of money the family spent this month:                            

$3,820

 

Total income for the family this month:

$2,170

 

Amount of new debt added to the credit card this month:             

$1,650

 

Outstanding balance on the credit card:                                       

$14,271 (This represents our national debt)


So last night, the family sat down at the kitchen table and agreed to cut
$38.50
from their monthly budget, an historic amount!

How many spend 43% more than they make?

On April 18, 2011, Standard and Poors downgraded America’s bond status to negative, a first in our history.