Monday, August 8, 2011

National Debt on our level and more…

If you know of Dave Ramsey you know he is a sharp guy who believes in economic honesty and truth in finances.

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Most of us cannot think in Billions and trillions so it is far above our heads. In America we have depended on ‘smart’ people we send to Washington to watch our countries finances.  They know how much money we have, and are supposed to use that to run the country. You know, fix the roads, pay the military, protect the country, help the less fortunate with housing, hospitals etc.

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What they have done is spent much more than is coming in, so like the good old American family, they borrowed.  Now see if you can get your hands around this statement by Dave Ramsey:

Quote:

"If the US Government was a family, it would be earning $58,000 a year, but they spend $75,000 a year, and have $327,000 in credit card debt.

Now they are currently proposing "big" spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand. —Dave Ramsey"

Now to add to that, this family (the USA), if they are able to lower their spending to $72K they (we) will still be going debt about $17,000 a year ($72K-$58K), therefore their outstanding debt next year will be not $327,000 but $344,000.

That is not good, but if the next few years they cut back to spending $65,000 they will still be going in debt, but less.

PROBLEM: WHO WILL GET HURT IN THE CUTSSOMEBODY MUST AND SOMEBODY WILL, IT WILL BE THE PERSONS WHO CAN CAUSE THE LEAST TROUBLE IN VOTES, BET ON IT.

watch it buster

(You ain’t taking my bottle)

Tax the Rich, that is the cry of the majority. Listen up, you are asking the Rich to tax the RichAre you serious? The majority of your congressmen are ‘rich’ (It ain’t called the millionaires club for nothing, the majority of rich, are Democrats, but the Republicans are pretty close.).  However, if you did raise tax on the rich by 20% you would not raise enough to pay one program we are going to lose. 

The only Tax option being offered, is the ‘Fair Tax’, they are pushing a great option. It would benefit the less fortunate and tax everyone the same.

Thanks for visiting the log,

Nite Shipslog

PS: Folks say,”China owns us, Nah, not even close, we do owe them the most, but Japan is way up there. We owe China less than two trillion dollars, somebody send them a check!”

Understanding Engineers #2
To the optimist, the glass is half-full. To the pessimist, the glass is half-empty. To the engineer, the glass is twice as big as it needs to be.

Car or the day:

1939pontiac plexiglas invisablecr

Plexiglas 1939 Pontiac  Built for the 1939 Worlds fair.

Sorta ugly, but unique, looks like the gov’t taxed its clothes.

9 comments:

shirl72 said...

This is all over my head. I think I will just
keep my head under a rock and try to manage my
own check account. I might just bring all my
money home and bury it in the back yard in
jars. I will give you a map where it can be
found probably close to the swing since you
like to spend time swinging.

Shirl

Fred Alton said...

What's the solution? The "rapture" will get rid of a bunch of us who seem to be too restrictive because we believe in the old fashioned ideas promoted in the Bible!!! ☺

Y said...

I'll vote for the engineer and fair tax every time!

FrankandMary said...

I really like the Plexi.
Oddly, or so it would seem by listening to many people, I don't mind being taxed. Being taxed largely means I am MAKING MONEY..having my own business & being taxed..well, my business is making money..works for me. ~Mary

FrankandMary said...

But I should add...I do sometimes question the levels of certain taxes, but never enough to not want to live right where I am. ~Mary

madcobug said...

I guarantee you the low man on the totem pole will be the losers. We have already heard Obama say that medicare will be cut plus some of the programs that benefit the already poor.
We need some of that iceberg you have on the top picture in our yard, close enough to the house to provide air conditioning. Yep that would work and save on our power bill. On another thought it would probably be melted in a couple of days. Helen

I'm mostly known as 'MA' said...

It all sounds like a no win situation to me. The rich get richer and the poor get poorer and that is nothing new under the sun. It was nice to see those big figures broken down by Dave to something I could understand though. What a terrible mess. It is really nice here this evening. The humidity cleared out some and we have a nice breeze. It's a good time to sit on the porch awhile.

Bucko (a.k.a., Ken) said...

We are all going to need to sacrifice some to get out of this mess.

Cher' Shots said...

It amazes me how anyone, let alone an entire nation can overspend! Lets get back to the basics of 'if you don't have the money to pay for it, you can't have it.' AND I love Fred's comment!
'love & hugs from afar'