Monday, February 1, 2010

Do the Math!

As Congress goes back to work, after their well deserved Christmas break, they will need to pass legislation to raise the ceiling for the national debt. Unless they do this, they would have to stop borrowing and spending. Right now, our government averages spending around $10 billion per day - yep, that is $10,000,000,000 each and every day.

A brief history of the debt ceiling:
1996 - $5.5 trillion
March 2006 - $9 T
October 2008 - $10 T
February 2009 - $12.1 T
Now they want to raise it to around $14.3 trillion.

When Obama took office the debt was at $10.6 trillion.

So, how much is $14,300,000,000,000 ($14.3 trillion)? It amounts to approximately $43,000 for every man, woman and child in our country. That is your share of the national debt. Whatever portion of that number that you do not pay off in your lifetime will be passed on to the next generation for them to pay their share and the rest of your share.

If you spent one million dollars each day (which is $11.57 per second), it would take 2.74 years to spend one billion dollars.

If you spent one BILLION dollars each day, it would take 39.18 years to spend the new debt ceiling of $14,300,000,000,000. It would take 39,000 years at the rate of one million dollars per day.

The circumference of the Earth, at the equator, is 24,900 miles. It would take 262,944,000 dollar bills, end-to-end, to reach around the world. Our new national debt would reach around the world 54,384 times. Dollars stacked on top of each other, flat, require about 250 to be one inch thick. That means that this stack of dollar bills that reaches around the earth would be approximately eighteen feet tall.

Are you mad yet?

President Obama just released his requested budget for the next fiscal year. He anticipates spending 3.8 trillion dollars during the coming year with $1.6 trillion of that being unfunded by projected revenues. In his speech he warned us that we all need to not spend more than our means. In other words, Obama wants us to be more careful with our spending so we will have more for him to spend. He does not seem to mind that 40% of his budget is beyond his projected revenue income for the year. It is also noted that his projected revenue includes around $650 billion from the currently unpassed legislation of "Cap and Trade". So, if that does not get passed, it would mean that around $2.2 trillion would be unfunded by revenue - over 50%.

Washington has not got the message. They are completely out of control. They think nothing of spending another $100 billion here and there.

Are you mad yet?

The Speaker of the House, Nancy Pelosi uses a jet for her travel. She is not catching a ride on a military jet, she has assigned to her a corporate type of jet for her use. I just heard that her travel costs for last year were $2,100,000. We pay for that! It included over $100,000 in catering food and adult beverages. It was also reported that we paid for trips across the country for her kids and grandkids, where she was not with them. It was also reported that she made 31 trips where relatives went with her.

Are you mad yet?

Our "public servants" appear to feel entitled to live like royalty, at our expense.

I am mad! Are you mad yet?

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