Have you ever looked at the United States Government Budget? It's scarier than watching the Exorcist. If you applied business management principles to the U.S. Government budget, Uncle Sam would be forced to go into bankruptcy. political election humor blog
It's human nature to go over budget. I've done it and I am sure you have too. If you haven't, you were born wealthy, are a penny pincher or just don't have a life.
The budget is mind boggling. Look at it for yourself at U.S. BUDGET
First thing I looked at was the revenues verses expenses. Let's do some simple math:
Step 1 - $2,053 – $2,479 = - $427
Step 2 - Add some zeroes: 000,000,000
Step 3 - Solution: -$427,000,000,000 or - $427 Billion
In 2005, our U.S. gross revenues (collections from our taxes) were $2.053 trillion and our expenditures were $2.479 trillion, causing us to go into the hole a measly four hundred, twenty-seven billion dollars– give or take a few million.
What happens when your bank account goes into the red four hundred, twenty-seven dollars? Your bank charges you a $20 insufficient funds fee plus a $20 overdraft fee. If you make multiple transactions during this unfortunate period, your are charged fees on top of the overdraft fees, on top of the insufficient funds fees. Pretty soon, you owe the bank a zillion dollars. (I've seen one simple transaction for a Starbuck's Grande Hazelnut, Semi-Dry Cappuccino, turn into a negative $500+ account balance.)
Bank charges don't matter to our government because they own the banking system. They can spend more than they take in and still call it a good day.
Looking at the expenses side, the largest chunk of federal spending goes to guaranteed retirement and health benefit programs. The Department of Defense (DOD) is the second largest expense, with the largest increases in funding since the Reagan administration. Current DOD spending is $426 billion dollars. Sadly, education receives only $64 billion dollars. Third highest expense is the interest of the national debt, - a mere $430 billion last year.
The U.S. debt is $30,000 per American, according to a recent article, U.S. debt: $30,000 per American (Associated Press, December 3, 2007).
AMERICA'S DEBT IS YOUR DEBT
You, myself and every other American are all part of the U.S. government. We, the people; every man, woman, child and infant in the United States has a share of the national debt. And this doesn't count your personal debt. So, next time you see Johnny goofing of and playing Counter Strike, tell him to get his ass off the couch and get to work to pay his share of the debt.
The national debt is growing by nearly $1.4 billion a day, or nearly $1 million per minute. Imagine - you wake up and brush your teeth for two minutes and the national debt has risen $2 million.
Check out the up-to-the minute U.S. debt at TreasuryDirect.gov. The interest payments on the national debt are over $9 trillion dollars.
HOW DID WE GET INTO THIS MESS?
When Bush took over in January '01, our deficit was $5.7 trillion. When he leaves in January '09, our national debt will be over $10 trillion. That's nearly double. But we can't blame Bush for everything.
Both parties have some responsibility. The Republicans increased the debt over last eight years but the national debt has grown from 35% in 1975 to around 65% today. At this rate, the national debt will hit 350% of the GDP by 2050.
This clock near New York's Times Square has kept tabs on the national debt since 1989, when the debt was a measly $2.7 trillion. (Note: The picture of the clock is from a previous period.) This clock can't handle the $10,000,000,000,000 digits. I guess they'll have to use exponentials.
We should put a national debt clock on every heavily trafficked highway in Los Angeles, Houston, Dallas , Atlanta, Chicago, D.C., Seattle, San Jose, San Francisco, Oakland, Boston, Miami, Las Vegas, and Detroit. Politicians would freak if they saw one in their city. Democrats and Republicans have tried to tuck this massive debt under the carpet as if it doesn't exist.
SPREAD THE AWARENESS OF THIS ECONOMICALLY-CRIPPLING ISSUE
If you are interested in donating for this advertising awareness campaign, please e-mail me at huckfinn@putinforpresident.com. Special note to the super, duper wealthy: It would be great if we could get a few billionaires to pay for this entire awareness campaign instead of asking the little people like myself to donate money.
The wars in Iraq and Afghanistan could cost $2.4 trillion over the next decade, according to the non-partisan Congressional Budget Office.
$2.4 Trillion Dollars = Ecogeddon
I believe it will double. You can make your own decision. Here's a game for you to play: determine how much the war will cost by clicking on IRAQ COSTS.
MAKE GREEN NOT WAR
We'd be much better off taking the money we spend on war and investing it in green technologies, products and services. With that money we could give each American a free hydrogen fuel car, a solar roof on every home, plus put up wind farms across the country.
A SCARY THOUGHT
The national debt has created another sub prime-like crisis – but at the government level. We've had homeowners take out adjustable mortgage loans, which are coming back to haunt the entire financial banking system as well as our economy. The government could be next.
Currently, $2.23 trillion of the U.S. debt is held by foreign governments. 9.5% higher than last year. And who do you think owns a good portion of our debt? Take a wild guess. Guess! Don't cheat.
Japan owns the most with $586 billion. China is second with $400 billion. Saudi Arabia and other oil-exporting countries own $123 billion of our debt. How's that for national security?
"Borrowing hundreds of billions of dollars from China and OPEC puts not only our future economy, but also our national security, at risk. It is critical that we ensure that countries that control our debt do not control our future," said Sen. George Voinovich of Ohio, a Republican budget hawk.
Here's a cool thought. If you run out of money and max out your debt, just increase the ceiling of your debt. As consumers, we've done this with our credit cards. But there comes a level when you max out your credit cards and no other credit card company wants to give you any more credit.
Not for Uncle Sam. The Congress (led by Democrats) did just that recently – raising the ceiling to $9.82 trillion since the former maximum of $8.97 trillion was about to run over. Since Bush became president, the debt ceiling has been raised five times. But you can't blame Bush. Both parties are at fault.
"We pay in interest four times more than we spend on education and four times what it will cost to cover 10 million children with health insurance for five years," said House Speaker Nancy Pelosi, D-Calif. "That's fiscal irresponsibility."
THIS DEBT IS NOT GOING AWAY
The government, no matter what party comes to power, will have to cut costs, increase taxes or both.
We should reduce costs in defense, international aid and government operations and increase expenditures in green technologies, alternative energies, education and entrepreneurship that would enable us to generate new revenue streams.
We're in a major crisis. Ecogeddon could be right around the corner.
-- HuckFinn@PutinforPresident.com
"Smart-Ass Politics for Smart People"
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