Tuesday, November 25, 2008

Is $7.4 Trillion really alot of money?

Is it? It is a chunk, but what if Corporate Accounting practices were used on the US Governments Books? How does $59,100,000,000,000 sound. That is over $500,000 for every US household. I don't have that much debt. I have a mortgage but at least that is backed by a house.
So how does that break down:
BALANCE DUE
The cost per U.S. household of unfunded promises made by federal, state and local government:
Medicare $255,280
Social Security $144,251
Federal debt $43,380
Military benefits $25,863
State and local debt $17,537
Federal civil- servant benefits $14,374
State and local retiree benefits $13,114
Other federal obligations $2,548
Total $516,348

We really need to get rid of these fools in Washington. They don't know how to do anything right.

3 comments:

Lisa said...

I am sick to death of Washington, they have been there so long they do not know what it is to be a real American and really work everyday to pay taxes and bills. Vote them out and vote in term limits for everyone not just the President.

TStevens said...

I was just in DC and tried to pass on your message, they ignored me.

TStevens said...

I pay good money for this blog - you better start posting stuff!!!