Quote:
Originally Posted by tony286
Thank you I needed a good laugh today.
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Maybe you can explain your math to me:
Quote:
Submitted February 1, 2010
Submitted by Barack Obama
Submitted to 111th Congress
Passed April 15, 2011 (Pub.L. 112-10)
Total revenue $2.567 trillion (requested) $2.314 trillion (enacted)
Total expenditures $3.834 trillion (requested) .$3.360 trillion (enacted)
Debt payment $0.25 trillion (requested) Deficit $1.56 trillion (requested)
Library of Congress
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How do YOU figure a country can spend 50% more than it brings in and not go broke within a few years. How does that math work?
Based on the arithmetic I learned in second grade, in three years we'll owe $18.5 trillion and bring in $2.5 trillion. To put that into perspective, that's like someone making $100k who owes $720,000. Tell me how that works in your world.
Treasury bonds average about 5%, so figure just under a trillion per year in interest four years from now. So we're bring in $2.5 trillion and spending $1 trillion on interest. That leaves $1.5 trillion to fund the government, but Obama is spending $3.5 trllion. Do you think he's going to cut spending 60%-70%? Explain how that can work, please.
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