Here is a lesson on cutting through the financial doublespeak from our politicians and getting down to the nitty gritty of our financial crisis by substituting the obscenely large numbers into something more tangible and relevant.
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: $16,500
Outstanding balance on the credit card: $142,710
Total budget cuts: $385
If there is no hope for this family budget, then how can there be any hope for our nation's? We need new leadership in the White House. Obama had his chance for 2 years, with both the House and the Senate controlled by the Democrats, to get this economy rolling again and he failed. Cash for Clunkers, really? This is the best you can do, Mr. President?
The bail outs were a bad idea. Bush started them and Obama maintained them. Why should the American taxpayer bail out institutions that engage in bad decisions with other people's money or that cannot manage or lead a company into the black? The banks and the auto industry bailouts should not have happened and we should have let the market taken care of itself.
GM was bailed out and instead of cutting back, becoming leaner and more competitive with the other auto manufacturers- they made the Chevy Volt. This was going to be the car of the future and get us one step closer to foreign oil independence. The Volt is more aligned with the Ford Edsel and has now become even more of a joke as the electric cars have now been launched into the realm of luxury. Seriously, cut the crap and make an affordable electric car that doesn't spontaneously combust.
So the $20,000 question is (Google that one, kids): Who will dig us out of this mess? Certainly not big government Obama and his new health care plan that will eventually turn us into a European State with people dying from easily treated conditions because the doctors will no want to spend money on tests. I could post links but just Google that too- there are hundreds of examples. If socialized medicine is so good, why are the rich people with ailment who need hospitalization and/or surgery coming to the U.S.?
The GOP is giving us some slim pickins for November. I guess if Obama wins we are supposed to hope for more hope?