I'm in the process of setting up an online Radio Station and, after watching Good Morning Vietnam, I have myself convinced to say that....once. Okay, maybe not, might not be the best idea.
First off, let me apologize. My last post I referred to President Obama as a monkey. Some people took that as a racial statement. I no way meant that to be a racial comment. In fact, truth be told, I would refer to anyone that has so carelessly ran our country a monkey. So, they could be white, black, brown, red, green, yellow, it doesn't matter. So, to those of you who thought that to be a racial slur, I'm sorry.
I've been doing a lot of reading on Debt. Lets start off this post by defining Debt.
Debt: Something, typically money, that is owed or due
Public Debt: the total of the nation's debts: debts of local and state and national
Private Debt: Money owed by individuals and businesses within a given country.
Now all of these definitions are easily found on google, I didn't pull these out of a hat. So, now that we have the basis down on what the definition of Debt is, lets get into a little more detail. How is debt accrued? By taking loans because the money isn't readily available, or by spending more money than is available, therefore requiring you to take a loan to cover the difference.
So with that being said, lets take a look at our nations debt, $14,242,221,600,000. Umph, thats a kick in the chest right there. But, can we really swallow that number? No, not really. For most Americans, anything over $1,000,000, seems like a large number. So, to put it into a little bit of perspective, i'm going to remove $1,000,000 from the number up there, $14,242,220,600,000. Heh, it didn't change hardly at all. Not enough to count, anyways. This guy does an awesome job at explaining it. Click Here and Here
Now, with the current budget cut proposals how much is it really effecting the overall number? President Obama said his proposal would cut Three(3) trillion dollars a year off the current amount they spend. If you get the chance check out The Debt Clock and watch how fast that number is climbing. The reality is, 3 trillion dollars isn't going to do it. The government is in debt right around Four(4) Billion dollars a day.
As of 2007, there were 138,893,908 tax returns filed in the United States. So if each one of those returns were to pay off the debt, they would owe $107,982.41. No real reason for me sharing this, i just thought it was interesting to think about.
So, anyways, on the White House's web-site they have President Obama's current budget proposal. Here, we see what a lot of the spending is....Medicare, Social Security. If I remember right, there was a stunning, attractive young man who wrote about social security....Oh, it was me. Now, wait a minute here, I'm paying into Social Security, so why is the Government?? On a side note, if you look at the right hand bottom, you see Immigration and other Law Enforcement. Immigration doesn't even deserve a percent? And we wonder why Immigration is a problem. The truth is, I really don't know, just seems a little weak.
$0 - 17,984
(3.4% of the income)
Lower Middle 20%:
$17,985 - 34,000
(8.7% of the income)
$34,001 - 54,453
(14.8% of the income)
Upper Middle 20%
$54,454 - 86,867
(23.4% of the income)
$86,867 - No limit
(49.8% of the income)
Also interesting is the following statistic:
$154,120 - No limit
(21.4% of the income)