MorningGlory Posted August 23, 2012 Group: Royal Member Followers: 0 Topic Count: 1,022 Topics Per Day: 0.16 Content Count: 39,193 Content Per Day: 6.10 Reputation: 9,977 Days Won: 78 Joined: 10/01/2006 Status: Offline Share Posted August 23, 2012 Even though this pertains to the American economic situation, I'm sure the principle can be applied to ANY government. Although.......that annual family income would be at the extreme poverty level in the U.S. and many other western countries. How we got here...... * 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 * Family decides to cut Budget by.... $385 Link to comment Share on other sites More sharing options...
TrackerJack Posted August 23, 2012 Group: Junior Member Followers: 0 Topic Count: 12 Topics Per Day: 0.00 Content Count: 120 Content Per Day: 0.03 Reputation: 18 Days Won: 0 Joined: 07/06/2011 Status: Offline Share Posted August 23, 2012 The required cut will impact the "entitlement class", and if they stop receiving handouts, you'll see the cities BURN. You wont find either party willing to make that decision, so they'll try to keep it going as long as possible. Then it'll all come crashing down. War in the middle east will likely cause $200 a barrel oil, and our economy can't handle $7-$8 gas. When was Israel planning on attacking? Before the elections? Link to comment Share on other sites More sharing options...
Littlelambseativy Posted August 23, 2012 Group: Royal Member Followers: 6 Topic Count: 230 Topics Per Day: 0.04 Content Count: 4,941 Content Per Day: 0.95 Reputation: 2,003 Days Won: 14 Joined: 02/08/2010 Status: Offline Share Posted August 23, 2012 I just read something not about trillions but quadrillions and stopped thinking about debt and finances because I just got accustomed to billions and they changed it to trillions of which I cannot even fathom and now they talk about quadrillions?? That is too much 'higher math'. Link to comment Share on other sites More sharing options...
gdemoss Posted August 23, 2012 Group: Royal Member Followers: 8 Topic Count: 59 Topics Per Day: 0.01 Content Count: 4,402 Content Per Day: 0.99 Reputation: 2,154 Days Won: 28 Joined: 02/10/2012 Status: Offline Birthday: 04/26/1971 Share Posted August 23, 2012 But the beauty is in the purpose of the countries debt and currency crisis. Debt is debt regardless of the currency used to establish said debt and God honors the debt of the debtor except it be forgiven. Once the debtor defaults on the debt then the lender can lawfully assume the possession of the debtor by the hand of God and bring them into physical captivity. Wait for it. Mark my words. It won't be long. In Jesus Name, Gary Link to comment Share on other sites More sharing options...
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