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The Economy Thread
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History Lesson on The Economy:
Lesson #1:
Why the U.S. bond rating was downgraded:
• U.S. Tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the credit card for this year: $16,500
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385
Would you consider this family to be a good credit risk???
Got it?
OK now Lesson # 2:
Here's another way to look at the Debt Ceiling:
Let's say, You come home from work and find there has been a sewer backup in your neighborhood....and your home has sewage all the way up to your ceilings.
What do you think you should do?
A) Raise the Ceilings, or
B) Pump out the sewage
Your Choice is coming November 2012 for all incumbents.
Posted by AAB at 09:39 a.m. February 16, 2012
Cut government spending!
Depends on whose bull is being gored.
In the last few years, I have talked to several hundred people
that get some kind of check or help from the government.
Each can make a great case as to why their check or help
should continue. It is always "cut the other guy, he is lazy,
stupid, not deserving, etc."
Neal is correct in that all the government has to to is
scare someone enough and they have their vote.
I am no different, I have worked hard all my life, stood on
my own two feet and raised a great family. But because of lifes
bumps and potholes, my wife and I cannot make it in retirement
without Social Security and MediCare.
Before I get the usual posts about being smarter with my money, let me just say that I hope nothing ever happens to you.
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Posted by crmitchell at 09:07 p.m. February 13, 2012
Unemployment explained by Abbott and Costello..........
COSTELLO: I want to talk about the unemployment rate in America.
ABBOTT: Good Subject. Terrible times. It's 9%.
COSTELLO: That many people are out of work?
ABBOTT: No, that's 16%.
COSTELLO: You just said 9%.
ABBOTT: 9% Unemployed.
COSTELLO: Right 9% out of work.
ABBOTT: No, that's 16%.
COSTELLO: Okay, so it's 16% unemployed.
ABBOTT: No, that's 9%...
COSTELLO: *Wait a minute*. Is it 9% or 16%?
ABBOTT: 9% are unemployed. 16% are out of work.
COSTELLO: IF you are out of work you ARE unemployed.
ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.
COSTELLO: BUT THEY ARE OUT OF WORK*!*
ABBOTT: No, you miss my point.
COSTELLO: What point?
ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.
COSTELLO: To whom?
ABBOTT: The unemployed.
COSTELLO: But they are ALL out of work.
ABBOTT: No, the unemployed are actively looking for work. Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.
COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?
ABBOTT: Unemployment would go down. Absolutely!
COSTELLO: The unemployment just goes down because you don't look for work?
ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise it would be 16%. You don't want to read about 16% unemployment do ya?
COSTELLO: That would be frightening.
ABBOTT: Absolutely.
COSTELLO: Wait, I got a question for you. That means they're two ways to bring down the unemployment number?
ABBOTT: Two ways is correct.
COSTELLO: Unemployment can go down if someone gets a job?
ABBOTT: Correct.
COSTELLO: And unemployment can also go down if you stop looking for a job?
ABBOTT: Bingo.
COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.
ABBOTT: Now you're thinking like an economist.
COSTELLO: I don't even know what I just said*!*
And now you know why the unemployment figures are improving!