Musings

Wednesday, December 05, 2012

Broke

It is hard to believe that this country has accumulated a debt of 16 trillion dollars. Very few people have any concept of just what that means. Economists have tried to tell the population but their jargon tunes people out. Even our politicians, who are supposed to be our best and brightest, do not understand the danger to this country of such a large debt. They cannot get their heads around even one trillion. How can we expect the electorate to understand? They don't.

Most households have two contributors to the household income. If one of them ceases to contribute the household goes into debt; or, expenses are cut to generally meet the available income. Debt is available but it must be severely controlled because bankruptcy will come a knocking. Most households understand the problem of outspending their household income. When a household goes too far into debt there is personal bankruptcy, most people understand that. To take that understanding to a national level is beyond the average individual.

The numbers are too great, and besides, this Country has always had debt. Interest on the debt must be paid and for many years the interest was paid. Now, interest merely adds to the debt. We are adding to the debt without thought for the future. My new grand daughter Penny's personal share of the national debt was $227,000 at the time she was born. As I look at that small body I think, there is no way she will be able to pay that.

Yet, spending increases are expected every year. A large portion of our population is counting on it, yes, even demanding it. Even now the President is expecting to increase spending by 1.5 trillion. When does it stop? How does it stop?

Some say: "take it from the rich." There is not enough money there to keep this voracious government running for very long. The profits of the Fortune 500 richest companies come to 400 billion a year. If they are totally confiscated it will only run this country for 40 days. Yep, we are spending 10 billion a day. Also, there are 400 billionaires in this country and they have a net worth of 1.3 trillion. We spend 3.7 trillion a year. If all the billionaires money is taken from them it is easy to see that it will not cover our spending. The rich cannot get us out of this problem no matter how much we tax them.

How can we get the populace to understand this problem? Many are completely dependant upon the government and most believe that they do not get enough from the government. For them they do not want to hear this country is broke, and some do not care. Yet, politicians continue to promise more. We are broke, broke, broke. We must get this through to our politicians, but how?

132 Comments:

  • "The profits of the Fortune 500 richest companies come to 400 billion a year." Even my math makes that less than one billion per company. With Exon at close to 50 billion the rest of the list must be seeing hard times.




    za

    By Anonymous Anonymous, at 12:13 AM  

  • Marty,

    Your instincts are good. I checked the 500 list and 42 of those 500 companies lost money, some lost a lot. Here are some losers that raised my eyebrows: Eastman Kodak, A&P, Owens Illinois, Motorola, Dean Foods, United States Steel, Sunoco, Sears. For those that lost a lot, how long will they be in business with losses?

    While I was at it I totaled up the profits for the first 100 of the 500 list. Surprise, it totaled to almost 400 billion. So the profits previously given for the 500 is really only for the first 100 companies.

    Any thoughts about what to do about the 16 trillion debt?

    By Blogger Marcel, at 9:23 AM  

  • I have some ideas, but if I say them I'll be called a racist, homophobe, hater, isolationist, out-of-touch bigot. So, I'll just keep my mouth shut and enjoy the ride while it lasts. America has chosen its path, steal from the "rich" and give to the "poor" 51% of America. Sure one day there will be no more "rich", but who cares...there is always the Greece option. Enjoy.

    By Blogger David, at 7:21 PM  

  • 更好的,我們都學會說中國

    By Blogger David, at 9:05 AM  

  • Oops meant:

    學會說中國

    By Blogger David, at 9:12 AM  

  • Speaking is one thing, reading that chicken scratch is beyond most peoples imagination.

    Za

    By Anonymous Anonymous, at 11:27 AM  

  • That sounds a little xenophobic

    By Blogger David, at 11:31 AM  

  • Far from it, I have all the Zena movies.

    Za

    By Anonymous Anonymous, at 2:59 PM  

  • :-)

    By Blogger David, at 4:07 PM  

  • I should have said.....xenophobic? 我,沒有
    Oh well, next time

    Za

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