I support a limit of 10

February 4, 2011 at 11:26 am

No, not bullets – trillion.

I believe that $14,110,473,000,000.00 (ref) is excessive debt for the United States Government.

That’s just slightly less than the entire Gross Domestic Product of the entire United States for 2010 of $14,623,900,000,000.00 (ref).  And Obama plans on adding over another $1.266,700,000,000.00 (ref) to the debt this year.

That’s a lot of zeros.

To put it in perspective, let’s drop a few.

As we begin, realize the government does not earn, own or control the GDP.  The GDP includes all income generated by the entire country.  The Feds gets a large chunk of that, but so do the states, counties, cities and a little left for the citizens.

Using 2010 numbers, let’s say you have a total household income of $21,651.00 annually and you had a total debt of $137,866.00 (mortgage, credit cards, etc) or 6.34 times your annual income and you’re not paying down on any of the principle, only the interest.  In addition, you spent $37,207.00 last year or $15,556.00 more than you earned (71.8% of earnings) which gets added right on top of your existing debt.  Now your spouse comes along and wants to cut spending by $740.00 a year ($61.60 a month or about the price of basic cable) and you start screaming spousal abuse.

 

Debt          $13,786,600,000,000

Income       $2,165,100,000,000

Spending    $3,720,700,000,000

Deficit          $1,555,600,000,000

Cuts              $      74,000,000,000 (<2% of spending)

Instead of raising the debt sealing, I think Congress should lower it.  Not immediately, but a plan should be made to reduce it immediately with the goal of a $10,000,000,000,000 limit by 2020.

If the government believes they can mandate 35 mpg vehicles, then surely they can place limits on something they actually control.

As far as the standard capacity magazine ban that’s been proposed?

We can talk about gun control AFTER they’ve established spending control.

 

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