The Fiscal Cliff for Dummies - Kawasaki KLR 650 Forum
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post #1 of 7 Old 12-18-2012, 06:22 PM Thread Starter
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The Fiscal Cliff for Dummies

This puts things into perspective.

Lesson # 1:

* U.S. Tax revenue: $ 2,170,000,000,000
* Fed budget: $ 3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $ 21,700.
* Money the family spent: $ 38,200.
* New debt on the credit card: $ 16,500.
* Outstanding balance on the credit card: $142,710.
* Total budget cuts so far: $ 385.00

Got It? Ok, now,


Lesson # 2:

Here's another way to look at the Debt Ceiling:

Let's say, you come home from work and find there has been a sewer backup in
your neighbourhood, and your home has sewage all the way up to your ceilings.
What do you think you should do ...

Raise the ceilings, or remove the crap?



.

My Kaw Barn - 2004 KLR, 2006 Concours (sold), 1997 Bayou 400.

"It's a friggen motorcycle, it's not supposed to be comfortable, quiet or safe. The wind noise is supposed to hurt your ears, the seat should be hard and riding it should make you shit your pants every now and then. "

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Last edited by klr4evr; 12-21-2012 at 02:18 PM.
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post #2 of 7 Old 12-19-2012, 07:09 AM
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I like that. So what does going off the fiscal cliff do? I don't fully understand it.

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post #3 of 7 Old 12-19-2012, 07:39 AM
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And Obama says Americans are stupid...

http://youtu.be/S9i6Sbnj-hk

Maverik

If the Lights are a Flashin', STAY OFF the tracks!!! It might be me at the Throttle...

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post #4 of 7 Old 12-19-2012, 10:14 AM
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Quote:
Originally Posted by Savage View Post
I like that. So what does going off the fiscal cliff do? I don't fully understand it.
"Going off the fiscal cliff" will raise taxes (back to where they were before the last round of cuts) and cut spending enough to make absolutely no difference in the deficit, never mind the debt.

It's more like a fiscal curb. Enough of a bump to feel but not enough to really make a difference.
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post #5 of 7 Old 12-21-2012, 09:48 AM
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Quote:
Originally Posted by klr4evr View Post
This puts things into perspective.

Lesson # 1:

* U.S. Tax revenue: $ 2,170,000,000,000
* Fed budget: $ 3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $ 21,700.
* Money the family spent: $ 38,200.
* New debt on the credit card: $ 16,500.
* Outstanding balance on the credit card: $142,710.
* Total budget cuts so far: $ 38.50

Got It? Ok, now,
While I like the simplification, and while this won't make a huge change in the calculation, the total budget cuts so far would actually be $385.

Either way though, the fact of the matter is that the government does't have a revenue problem, it has a spending problem.

Ronald Reagan said it best:

https://www.youtube.com/watch?v=a5aeHF2ay5M

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People should not be afraid of their governments. Governments should be afraid of their people.
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post #6 of 7 Old 12-21-2012, 02:20 PM Thread Starter
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Quote:
Originally Posted by acidman1968 View Post
While I like the simplification, and while this won't make a huge change in the calculation, the total budget cuts so far would actually be $385.

Either way though, the fact of the matter is that the government does't have a revenue problem, it has a spending problem.
Correction made to original post. I received this in an email and just did the copy/paste thing.

In any case it doesn't make a big difference in the overall picture. When you are almost $150K in debt taking a cup of coffee a day out of your budget isn't going to do much.

My Kaw Barn - 2004 KLR, 2006 Concours (sold), 1997 Bayou 400.

"It's a friggen motorcycle, it's not supposed to be comfortable, quiet or safe. The wind noise is supposed to hurt your ears, the seat should be hard and riding it should make you shit your pants every now and then. "

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post #7 of 7 Old 12-21-2012, 03:40 PM
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There is a lot about the Feds. Spending that tics. Me off, but I think the fact that the mess gets passed to my kids and grandkids upsets me most. Thomas Paine once wrote: " If there must be trouble, let it be in my day- that my child may have peace."


I guess that's my .02,

M

~Things work out best for those that make the best of the way things work out~
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