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Federal spending in perspective

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A Facebook friend posted this on his page:

If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year & have $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.

– Dave Ramsey

Comments

  1. To make it really like our government, give the family an extortion racket – put a gun or a piece of blackmail into their hands and let them demand money from the other people in their neighborhood. Say that is where their $58,000 income comes from.

    Lefties would say that the family isn’t extorting nearly enough – that the family’s blatant OVER-SPENDING PROBLEM can be covered simply by more extortion. I say that, if lefties try it, it may work in the first week but they will only force more of the neighborhood businesses to shut down. At which point they will discover, “you can’t squeeze blood from a turnip.”

    Some lefties then say, fine, the family (since we’re viewing it like our government) can just set up a printing press in the basement and counterfeit all the money they like. I say: great way to destroy the value of money, thus destroying a fundamental social contract and further damaging the neighborhood economy. These lefties respond that they don’t care; making the neighborhood take “a cut in its standard of living” is a perfectly normal, acceptable consequence of desirable economic policy.

  2. What’s next?
    – A Bank Holiday?
    – Confiscation of all private pensions, annuities, IRAs and 401(k)’s?
    – Compulsory zero-interest Savings Bond purchases?

    Or the usual gambit of the US Govt. and the Federal Reserve? Fire-up the printing press and print money to drive the value of the dollar down and trigger inflation.

    Fact: the 2011 US-dollar is worth 2-cents-on-the-dollar in buying-power of what it was worth when the Federal reserve was established. It’s worth less than 20-cents of when I was in college in the 1970’s before the Nixon-Ford-Carter inflation years.

    Fact: The US Dollar is worth less than 1/80th of it’s value in gold when the Federal Reserve was established.

  3. the usual gambit… print money [to create] inflation

    That. The decision has already been made. Even the left-wing talking heads have begun to call for it. I think I saw a clip of Ezra Klein the other day; he must have gotten an e-mail blast.

  4. Hi Dan,
    I think the example definitely shows that other members of the household are going to have to go out and supplement income; and most importantly, NEVER, EVER, EVER buy your family home, and put the whole payment on a credit card… 🙂

  5. Thanks for putting this in perspective that I can understand. As someone who is finally debt free after years of chronic credit card debt, I just have to say: Man, is our country f**ked.