Man Found Dead in Graveyard
$29 Trillion - At Some Point Spending and Cars will Stop
by Gerard Rotonda
A wise old friend, Al Thanhauser once told me, “Dog bites Man is not a headline, but Man Bites Dog is a headline.” It is important that we realize we have $29 Trillion of U.S. Federal Debt. A budget cut of $39 Billion has zero impact on a $3.2 Trillion U.S Deficit. If the US Government was run like a business, then it would be bankrupt and closed for business. Less government and less spending is required. How can we pay down $29 Trillion of Debt? While there is no intention to ever pay this down, the U.S. National Debt is expected to reach $89 Trillion by the end of this decade. We need to have spending cuts, and not budget cuts. I believe in deadlines, objectives and ownership, and we need to institute deep federal spending cuts to reduce our budget deficit to zero within 3 years. Gerard Rotonda
As of October 21, 2021
(in $ Trillions) = 13 digits!!!
(Updated 10/21/2021)
$ 3,888,000,000,000 U.S Tax Revenue
$ 7,062,000,000,000 Fed Spending Budget__(2020 was $4.79 Trillion)
$ 3,174,000,000,000 Deficit, New Debt
$28,903,000,000,000 National Debt
-----------------------------------------------------
$ 38,500,000,000 Recent budget cut
To simplify, then remove 8 zeroes and compare to a household budget:
$ 38,880 Annual Family income
$ 70,620 The money the family spent
$ 31,740 New debt on the credit card
$289,030 The outstanding balance on the credit card
--------------------------------------------------
$ 385 Total budget cuts so far
Another way of looking at the Debt Ceiling:
You come home from work and find there has been a sewer backup in your home and the sewage is all the way up to your ceilings. Do you “raise the ceiling” or remove the waste?
