Thursday, December 10, 2009

Let me see if I have this right

Let say you have a checkbook and it is overdrawn. You've already spent more money than you'll ever earn so chances are you will never balance your budget. Now along comes a group of people who say they need to borrow a bunch of money from you so you pull out the checkbook and right them a check. This makes the group very happy and they go off start spending the money from the check that really doesn't have any money to begin with. Now they come back to you and say that they won't need as much money as thought they would need to begin with so they give some of it back. But remember they really didn't get anything to begin with because you didn't have anything to give them in the first place. So now you can go out and spend the money that you saved because they didn't use what you never really had in the first place.

Am I making myself clear?

According to the web site (which by the way is a government sponsored site)TreasuryDirect the current total public debt as of this writing is $12,079,739,352,131.13 give or take a few pennies. So if you are this deep in debt and you "save" some money that you didn't spend do you really have money to spend on something else?
Even if you were able to figure out a way to pay back the debt at a rate of one million dollars per second it would take 38 YEARS to pay back that amount. Now this is doable if you didn't have to spend money on operating the government that you already have. The only problem is that we haven't been able to pass a balanced budget in so long that I am beginning to doubt we ever will.

1 comment:

ashuey said...

You have grasped the current "mentality" of congress. Unfortunately, they will continue to spend not only what they don't have, but also, will do their best to figure out how to spend more. Kind of like the current "green" conference going on, where the whole "man made global warming" debate is still raging. The whole "thing" is about getting these cottage industries going in the name of "the environment", and to have tax payers foot the bill. Falsifying scientific data in order to accomplish this goal. Helped Gore to become the first "Green Billionaire". Why doesn't this get any attention by the government investigative agencies. Go Green, recycle Congress!!!