...can't i just go to the ATM to get some more?
Ok, i figured I would shake off the cobwebs from the ol' blog and spit our some venom on one of the banes of our society--politicians.The most detestable part of it really is how stupid they think we are. I guess we really are because we keep falling for it! So our lovely president declared that we should reduce the deficit. For those of you thinking shouldn't that ALWAYS be the job of the government to spend what you make? this is an incredible thing, the government does not have to get even close to in the black and then to make it better the get political capital by saying the are going to reduce it...HUH?!? Currently, the estimates for the 2005 deficit is $427 billion (if you believe the "liberal" media) to $348 billion (if you need the "fair and balanced").
So we are spending according to the white house 2.709 trillion and receiving 2.285 trillion. So why do I care about this? We have known about this for years...I remember when it breached the 3 trillion mark when I was in middle school. There was an uproar! People cared. Politicians fought to decrease it…well they didn’t do so well. But I guess this is the M.O. of the government: get everyone to freak, act like you are going to do something, and then, DO NOTHING!
So it would make sense that we would continue to elect the socially fiscal party. The republicans have made a name for themselves as being the ones with the smaller government mentality, but looking at the deficit I noticed a disturbing trend:
Notice the red all during those fiscally conservatives. Sadly, they probably could change the colors to red and blue. Of course they say it was the democratic congress, now we have both republican congress and president, but we have the same—DO NOTHING.Well so what does it matter? Well as we all are finding when you owe someone you become a slave to the creditor. As a individuals we live just like our government. An article in USAtoday states that our average personal debt is $84,454. compare this to our household portion of the government’s debt is $473,456.
So we are the wealthiest nation?!?
Other websites:
US dept of Treasury’s historic debt information
where the debt is from
debt clock
posted by raj at 3:53 PM
3 Comments:
On a somewhat related note, as of 2 weeks ago, my personal debt is now $0. Well, I guess I owe the IRS $2,000 and I owe on the credit card I pay off every month to get airline miles on, but the money is set aside to pay for these.
As for the Govt., I was thinking the other day that the whole monetary system is completely arbitrary anyway. Where did all this money come from originally? If I take something out of the ground that was not previously owned, (oil, gold, diamonds, iron, etc.)and receive money for my find, am I just taking from the finite pool of money in the world and causing it to devalue?
I'm no economist. I bring people things, and before that, I made sandwiches.
ah...but you are forgetting america's main value...and your's-- service. you are paid for how you bring, not what you bring!
america produces so little now. all we have is our ingenuity, talent, and creativity. just as valuable as the crap in the ground...but ironically, we are dependant on it, because the above can't seem to get past it!!
by the way on this note i can't wait to read this book:
Freakonomics (sorry i tried to link to it..) -- economists "read" the world--just read the index.
First you need to go to your blogger settings and turn on word verification for comments so the porn offers and other advertisements don't cause you grief.
Secondly you missed researching who now holds most of our debt. We owe way too much to foreign entities. This could be used against us.
Something to think about.
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