Dan in Napa CA
Member
So wtf is wrong with me? I seem to think that I can't spend more money than I have, unless I take out a loan. If if I do, I'm going to have to pay it back. If I'm already strapped, it's gonna be a bitch to do, so I'll have to try to cut back on something else to come up with the extra scratch. That's ok, I usually think ahead. If I'm going to come into some extra money, or get a raise, then it'll all work out.
But if I'm not going to come into extra cash, then maybe I can't afford a new gun or go away for the weekend, and I'll have to maybe stay home and do some pruning or wash the car.
So here's why I must be stupid: I seem to think that government can spend money that it doesn't have so long as the economy continues to grow, because it'll have more money coming in and can pay back what it overspent. So it makes sense to me that when the economy isn't showing signs of growth, that isn't necessarily a bad thing - it just means that government can't buy new guns or be giving money away.
I mean, when was the last time you took out a loan to make a gift to charity? Seriously, when? I've got a dollar that says "Never," because nobody in their right mind would borrow money to give it away, am I right? Apparently not, because every single one of us does it every day, through the vehicle of government. In 2011 we spent $48 Billion on Iraq. That's almost $1 Billion per State. I started reading this http://www.state.gov/documents/organization/183755.pdf and wanted to puke.
But Foreign Aid is a drop in the bucket. How about 11% of the National budget going to Welfare? Seriously, $422 Billion going to Welfare just from the Fed. That works out to $1,322 out of my pocket (and yours) this year, going to pay welfare. I'm not happy.
Quick Facts: GDP is $16.335 Trillion (that's not income to the Government, it's what the Country produces at large). Government is going to spend $3.8 trillion of that, but it'll have to run a deficit of $0.9 Trillion (aka $900 Billion). The Fed spends $12,003.80 per person per year (check how much you paid in tax last year to get a perspective on where you stand when it comes to carrying your share of the load). We have 316.8 Million people in the country. The Gross Public Debt is $17.55 Trillion (the Country owes more than it can produce in a year). Right now, if every man woman and child paid equally to buy out the debt, it would cost you and me and everyone else $55,382.90 each. All 316.8 Million of us.
$55.382.90, the magic number. If I could write a check for that amount, just to not have to pay to service the debt, I'd find a way to do it in a heartbeat. I know, I'm stupid. Do you think any bank would lend that amount, for that purpose? Do you think they'd be willing to charge 1.4% interest? Admittedly, it'd be a crappy investment because I'd only be getting to save $781.80 a year in the interest payment (about 1.4% ROI); still, that'd be forever and include every generation to follow, if there was one, simple basic rule that would require a Constitutional Amendment:
No Political Entity may spend more in a year than it received in the year prior.
If you want to have fun numbers to play with, check this out:
http://www.usgovernmentspending.com/year_spending_2013USbn_13bs1n_4000#usgs302
We need an icon that has the little guy rolling on the floor laughing his ass off while stabbing himself in the eyes with knitting needles.
The plan is to spend $2,844.90 per person MORE than the Fed has to spend, this year. Is SEQUESTER going to knock down $901 BILLION this year? Hey, that'd get the budget balanced. ;-) But that ain't what happens. It'll only knock things down by about $100 Billion, so it doesn't go far enough, which is too bad. I bet the politicos would REALLY squawk if Sequester meant "Cut across the board until the budget balances." The little guy wouldn't need the knitting needles after all.
OMG - you mean government would have to SHUT DOWN if they had to work with a balanced budget? We're hearing disaster gloom and doom over a measly $100 billion less - I can only imagine what 9 times more of that racket would be like. Probably exponential....
So I must be stupid, but at least I can stay home and do some pruning and wash the car and maybe work on rewiring the '87 Jeep. After all, it's paid for.
DiNCA
But if I'm not going to come into extra cash, then maybe I can't afford a new gun or go away for the weekend, and I'll have to maybe stay home and do some pruning or wash the car.
So here's why I must be stupid: I seem to think that government can spend money that it doesn't have so long as the economy continues to grow, because it'll have more money coming in and can pay back what it overspent. So it makes sense to me that when the economy isn't showing signs of growth, that isn't necessarily a bad thing - it just means that government can't buy new guns or be giving money away.
I mean, when was the last time you took out a loan to make a gift to charity? Seriously, when? I've got a dollar that says "Never," because nobody in their right mind would borrow money to give it away, am I right? Apparently not, because every single one of us does it every day, through the vehicle of government. In 2011 we spent $48 Billion on Iraq. That's almost $1 Billion per State. I started reading this http://www.state.gov/documents/organization/183755.pdf and wanted to puke.
But Foreign Aid is a drop in the bucket. How about 11% of the National budget going to Welfare? Seriously, $422 Billion going to Welfare just from the Fed. That works out to $1,322 out of my pocket (and yours) this year, going to pay welfare. I'm not happy.
Quick Facts: GDP is $16.335 Trillion (that's not income to the Government, it's what the Country produces at large). Government is going to spend $3.8 trillion of that, but it'll have to run a deficit of $0.9 Trillion (aka $900 Billion). The Fed spends $12,003.80 per person per year (check how much you paid in tax last year to get a perspective on where you stand when it comes to carrying your share of the load). We have 316.8 Million people in the country. The Gross Public Debt is $17.55 Trillion (the Country owes more than it can produce in a year). Right now, if every man woman and child paid equally to buy out the debt, it would cost you and me and everyone else $55,382.90 each. All 316.8 Million of us.
$55.382.90, the magic number. If I could write a check for that amount, just to not have to pay to service the debt, I'd find a way to do it in a heartbeat. I know, I'm stupid. Do you think any bank would lend that amount, for that purpose? Do you think they'd be willing to charge 1.4% interest? Admittedly, it'd be a crappy investment because I'd only be getting to save $781.80 a year in the interest payment (about 1.4% ROI); still, that'd be forever and include every generation to follow, if there was one, simple basic rule that would require a Constitutional Amendment:
No Political Entity may spend more in a year than it received in the year prior.
If you want to have fun numbers to play with, check this out:
http://www.usgovernmentspending.com/year_spending_2013USbn_13bs1n_4000#usgs302
We need an icon that has the little guy rolling on the floor laughing his ass off while stabbing himself in the eyes with knitting needles.
The plan is to spend $2,844.90 per person MORE than the Fed has to spend, this year. Is SEQUESTER going to knock down $901 BILLION this year? Hey, that'd get the budget balanced. ;-) But that ain't what happens. It'll only knock things down by about $100 Billion, so it doesn't go far enough, which is too bad. I bet the politicos would REALLY squawk if Sequester meant "Cut across the board until the budget balances." The little guy wouldn't need the knitting needles after all.
OMG - you mean government would have to SHUT DOWN if they had to work with a balanced budget? We're hearing disaster gloom and doom over a measly $100 billion less - I can only imagine what 9 times more of that racket would be like. Probably exponential....
So I must be stupid, but at least I can stay home and do some pruning and wash the car and maybe work on rewiring the '87 Jeep. After all, it's paid for.
DiNCA
