Monday, August 8, 2011

Debt Ceiling BS

I haven’t even been able to watch the “talking heads” the last few days because they are all trying to tell us how great it is that congress finally came to some “compromise” to keep our government from shutting down. What they are failing to mention is the fact that this compromise does virtually nothing to correct the problem and just extends our debt ceiling which is already past bankruptcy stage for any normal business. Why can’t these congressmen comprehend that we must not spend more than our income if we ever hope to survive? The following video of Harry Reid recorded during the budget debate basically shows what the problem is……….. They don’t give one hoot about anything but partisan politics. That goes for Democrats as well as Republicans. Poor Harry is more concerned with getting off for summer break on time so he can see his trees bloom than he is in coming up with a solution. Lest I need remind you, our own Senator Tester spent many hours in Nevada prior to the November election campaigning for his good buddy Harry Reid. Take a look at the video and tell me what you think.

Also the following comparison between government financial affairs and a comparable American family really put this financial mess into perspective for me

All this budget talk running into the trillion is really confusing for the average American. Let’s do a simple math exercise consisting of just removing 8 zeros from the budget numbers to make the dollar amounts something we can compare to an average Americans debt to income ratio.
  • Annual Income: $21,700
  • Yearly Expenses: $38,200
  • Yearly New Debt: $16,500
  • Outstanding Credit Card Balance: $142,710
  • Budget Cut as just passed by Congress: $385
So now with this new “compromise” we are only adding yearly new debt to our credit card balance of $16,115 instead of $16,500. Yea, I can see how this will really solve the problem. The real solution is to match the spending to the income plus a little to go to reduce the huge credit debt. If my income / loss statement looked like this the bank would have foreclosed long ago. What makes you think the government won’t face the same fate? I hate to admit it but the teabaggers are dead on right on this debt issue.




  1. From what I read not much has been cut and they are still cranking out new programs needing government czars and staff on a daily basis. Did we really need a czar to tell us McDonalds isn’t selling health food?

  2. It is all posturing BS. If they really wanted to cut spending they should stop the senseless wars that our grandchildren will continue to pay for the medical treatment of wounded soldiers coming back without legs. This is in addition to stopping running our empire complete with huge troop levels in Germany and Japan (I thought we won that one)

    Perhaps we should also stop spending money giving Exxon, Chevron, and Conoco subsidies as well as being generally tax free. This all while they enjoy record profits as well as unprecedented environmental disasters courtesy of big oil.

    And finally if we really wanted to stop spending, the ALL farm subsidies (the real rural welfare) should be ceased immediately.

    But since this is the make believe world of political posturing, the teachers unions, NPR, and the National Endowment of the Arts are really the only things the far right wants to actually cut.

    There is no actual credibility to their arguments.