atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#2550: How broke are we?

We're so broke, we can't afford to pay attention! *rimshot*

Here's a breakdown with numbers the human brain can grasp.
If the Federal government were scaled down to the size of the average US household, here’s what its finances would look like:

* The Federal government would earn $50,000 a year in tax revenue (the same as the average US household).

* It would be $325,000 in debt.

* It would pay almost $10,000 a year in interest on that debt.

* Last year, it would have spent $79,000.

* This year, it is hoping to spend $86,000.

* The $100 billion in spending cuts (that some politicians view as draconian) would be equivalent to the household cutting its $86,000 in planned spending down to a mere $83,700. Not a bad start, but the household has another $33,700 to go before it balances its budget.
Cutting $2,300 out of $86,000 is 2.67%, which is a bigger cut than either political party is pushing. The GOP is actually only after a 1.6% cut, and the Democrats want a cut so small it you can't see it without a microscope.

The chart right below the text I blockquoted makes it plain: the US has a total debt load--both debt and unfunded obligations--of around $64,090 billion.

World GDP is $58,230 billion.

That's right: we owe more than the annual economic output of THE ENTIRE WORLD.

No one's even trying to do anything about it. This way lies ruin.

* * *

So the weather tomorrow is supposed to be unseasonably warm, and rainy. It's going to be 61°! It's proof of global warming!

* * *

Well, it's 9 AM; I've been up since 6:30 PM. Why can I stay awake all night without a problem, but if I am sleeping at night I can only go 12 hours before I need sleep again? My circadian rhythm blows.
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