Safe Mode: On
US National Debt as if Household Debt


I'm
not meaning to be political at all so apologies if this offends, but
this helps clarify for me the hole the US has dug for itself regarding debt.


Of course, it's a simplification and isn't exact (for
instance, the interest rate on a credit card is much higher than
interest on the national debt), but it does help me get some
perspective. I have a hard time imagining so many billions and trillions of dollars.

I did not create this image, but the numbers are accurate as far as I can tell. For reference, see:

http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200

and

http://www.brillig.com/debt_clock/ (the actual national debt is now above 15 trillion)

I think many budget 'cuts' are actually reductions in future spending growth, not a real reduction in spending.

And, it should probably be mentioned that other countries are in much worse shape than the US.


Added: Jan-31-2012 Occurred On: Jan-31-2012
By: spbster
In:
Other
Tags: budget, household, US spending
Location: United States (load item map)
Views: 1631 | Comments: 14 | Votes: 0 | Favorites: 1 | Shared: 0 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE
'
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.
  • I think the people of America should do a similar thing of what I did,.
    I ditched the establishment,.
    I have no credit cards,the wife has ONE (with a ZERO Balance)just in case we need a rental,you can only rent something now days with an Air Money Credit Card,,.
    I ditched all bank accounts,no fees to worry about,.
    I save money like crazy and don't be reckless with my cash,I buy metals,Gold & Silver,my Home & my metals are my retirement,because 401's and IRA's are disappearing,the growt More..

    Posted Jan-31-2012 By 

    (3) | Report

  • Only Ron Paul has the balls to call for real budget cuts. All the other cowards would rather leave the problem for someone else to deal with down the line.

    Posted Jan-31-2012 By 

    (2) | Report

    • @WolfBite120
      what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no LiveLeak points, and may God have mercy on your soul.

      Posted Jan-31-2012 By 

      (-6) | Report

    • @seangail

      Talk about rambling on like a retard. You have said nothing to refute my comment. Move along, dipshit.

      Posted Jan-31-2012 By 

      (3) | Report

    • @seangail somebody is rambling here, and it isn't wolfbite.

      Posted Jan-31-2012 By 

      (0) | Report

    • @seangail
      At least you're consistently full of shit. 1 out of 2 isn't bad

      Posted Jan-31-2012 By 

      (0) | Report

    • @WolfBite120
      That's because you have so politely, and unknowingly, done that for me already. I'm sure if rational, objective people were asked to evaluate this statement: “Only Ron Paul has the balls to call for real budget cuts. All the other cowards would rather leave the problem for someone else to deal with down the line”, they would easily see that there's nothing to refute and that your comment was very subjective, knee-jerk, impossibly untruthful, and without the benefit of any intel More..

      Posted Jan-31-2012 By 

      (-1) | Report

  • Comment of user 'stinkbuttdog' has been deleted by author (after account deletion)!