Bend over obama voters - enjoy it

[ontheblack]

No concession, just more bullshitte!

Here is where we are really at:

Fiscal Cliff Deal As a Household Budget
KYLE BECKER

The fiscal cliff deal is being praised by the mainstream media as some kind of huge compromise by the president. But this is only the case if it is seen from the perspective of someone who only watched the negotiations, and knew nothing about the United States’ financial big picture.

The term economics comes from the Greek root oikos meaning household and nemein meaning to manage. The nation definitely needs to get its fiscal house in order, so what if the government were like a household that had to balance its budget?

Let’s take a look at fiscal year 2013′s projected numbers:

U.S. tax revenue requested: $2,900,000,000,000
Federal budget: $3,800,000,000,000
New debt (low estimate): $900,000,000,000
National debt: $16,443,000,000,000
Recent budget cuts: $15,000,000,000
Outstanding debt liabilities: $86,800,000,000,000


Now if you picture these numbers like a household budget by removing 8 zeroes, you’d get the numbers below:

Annual family income: $29,000
Family spending: $38,000
New debt in 2013: $9,000
Credit card debt: $164,430
Mortgage (on the future): $868,000
Cutting expenses: $150

[Dugout Dad]

Now if you picture these numbers like a household budget by removing 8 zeroes, you’d get the numbers below:

Annual family income: $29,000
Family spending: $38,000
New debt in 2013: $9,000
Credit card debt: $164,430
Mortgage (on the future): $868,000
Cutting expenses: $150

And we are borrowing from uncle Chester(aka China) to cover our bills and we are also pulling money from the kid's Monopoly board game to pay everyone else.

[jonriv]

Now if you picture these numbers like a household budget by removing 8 zeroes, you’d get the numbers below:

Annual family income: $29,000
Family spending: $38,000
New debt in 2013: $9,000
Credit card debt: $164,430
Mortgage (on the future): $868,000
Cutting expenses: $150

And we are borrowing from uncle Chester(aka China) to cover our bills and we are also pulling money from the kid's Monopoly board game to pay everyone else.

Ironically -the largest holder of US debt is "ourselves" The US government is the largest holder of US debt followed by US citizens(T-bills, bonds, savings bond etc

Debt financing in itself is not a bad thing(ie mortgage) Long term financing for long term things is actually prudent financial policy-. Especially when borrowing at low rates. However, the current debt load is not sustainable of the long term and things have to change. We need to streamline our government spending and find ways to cut where it does not effect long term growth. Politicians need to show the courage to make leadership decisions and the American people(both sides of the aisle) need to understand that tough decisions need to be made now to avoid even tougher decisions down the road. The blame and demonization from both sides needs to stop. I am very disappointed in the president's (lack) of leadership. He should have demanded that both sides lock themselves in a room and get a deal done right after the election(like the real JP Morgan used to do) It was ridiculous that both the President and congress were more interested in making speeches and going on vacation than fixing the problem. Then they come out with a solution that really cures nothing.

It's simple on the concept(Pretty much what Simpson-Bowles said 2 years ago)

1) raise revenues(but look to change the tax codes)
2) revise entitlements to not only cut their costs, but to make them viable for when our Grandchildren might need them
3)short term "stimulus" money that actually does something for long term growth- infrastructure(transportation, powergrid etc...) and education

and while I am at it- I am tired of hearing TV pundits talking about all the money in politics when the biggest cost of a campaign is TV advertising Here's how to shut them up- all TV stations need to have one hour of "freetime" that all politicians can play their 1 minute ads(did I here Tivo?)

[Dugout Dad]

Not to worry, I found a couple of these in the ashtray of my car............problem solved.
http://www.huffingtonpost.com/2013/01/04/trillion-dollar-coin-petition_n_2409704.html?utm_hp_ref=business&icid=maing-grid7%7Cmaing9%7Cdl1%7Csec1_lnk3%26pLid%3D253105