Here is the US budget - Do You Agree with the "funny" Tag...?
Today I came across this very simple way to describe the US budget... I thought it was worth sharing, but wasn't quite sure about the appropriate tag...
Do you agree with "funny"? :-)
If you think another tag is more appropriate (e.g. ponzi...), drop me a line!
National Debt does not equate to personal credit card debt. Most of that debt is actually held by the country itself.
Most of it is held by the FED, which just borrowed money into existence to buy it up, robbing everyone else who uses USD of their purchasing power by doing so.
Ok, but the Federal goverment, as a legal entity, is deeply indebted to a herd of creditors, at home and abroad... Using the family analogy, scrapping credit cards, one could say that they own money to relatives as well as to strangers...but they are broke nonetheless.
Actually, comparing a personal credit card to the national debt is VERY APROPOS.
Especially after you read Creature From Jekyll Island.
Just like the credit card, the national debt is secured by the labor of the american people.
Just like the credit card, the money loaned is made up out of thin air.
If you actually look into this phrase, you should be scared out of your mind.
Like, all of the money in social security is invested in "special" govern-cement bonds.
So, the govern-cement owes itself money? No, the reality is worse then that.
I think labeling national debt as credit card got a chuckle from me. I guess being this much in personal debt would probably isolate you from any communications like phone service and residential mail service. Only because of having no home and no power. So, no creditor calls or mail. doh!
Right. BTW, I just added the "ponzi" tag :-)
It applies as funny in the same way the movie Idiocracy is funny. It is funny and scary at the same time.
I've seen these numbers before. You can do this each year and they just get bigger.
What is truly funny is when they claim to have made cuts and it turns out they planned on adding $100 million in new spending and instead they are only going to add $80 million in new spending. So they didn't really cut the budget at all, they just reduced how much they were planning on increasing it.
This is great but you missed a line at the bottom.... something like... "putting the kids through college, paying medical bills to come, paying for retirement.... $1,040,000..!! On other words the Future Unfunded Liabilities that totally dwarfs everything. Great post though and upvoted. Now following. Stephen
Actually, the video that went along with this was hilarious. The above family was trying to get a house loan, and the banker was having none of it.... until he learned they had a child. At the end you see the child signing a contract with a crayon, and the banker saying, "We are so thankful for the next generation".
haha haha so true..!!
This post has been ranked within the top 25 most undervalued posts in the second half of Nov 17. We estimate that this post is undervalued by $14.89 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 17 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
This is not believable ((((
Most of that debt is made of imaginary money I think but I would be lying if I said I fully understood how the Federal Reserve works - I'm not even sure they know themselves. Perhaps someday they will audit it.
Assuming there is no #OMG I'd say #funny is appropriate.