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    Government Shutdown

    Some perspective on the issue. I saw this posted on another website.

    Some stats about the US government:
    •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

    Now, remove 8 zeroes 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

    #2
    The Cuts

    I wonder if the 38.5 billion in "cuts" was the result of the much bally-hooed and terrifying "sequestration"?

    Comment


      #3
      Originally posted by Bees Knees View Post
      Now, remove 8 zeroes 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
      I think that family should declare bankruptcy. They can wipe out that credit card overnight. Then start rebuilding their credit rating. The bankruptcy will fall off their credit reports in a few years, far sooner than they could pay off $142,710 on that income.

      Comment


        #4
        More stats:

        National Debt at the end of each fiscal year (total accumulated debt):

        09/30/2012 - $16,066,241,407,385.89
        09/30/2011 - $14,790,340,328,557.15
        09/30/2010 - $13,561,623,030,891.79
        09/30/2009 - $11,909,829,003,511.75
        09/30/2008 - $10,024,724,896,912.49
        09/30/2007 - $9,007,653,372,262.48
        09/30/2006 - $8,506,973,899,215.23
        09/30/2005 - $7,932,709,661,723.50
        09/30/2004 - $7,379,052,696,330.32
        09/30/2003 - $6,783,231,062,743.62
        09/30/2002 - $6,228,235,965,597.16
        09/30/2001 - $5,807,463,412,200.06
        09/30/2000 - $5,674,178,209,886.86
        09/30/1999 - $5,656,270,901,615.43
        09/30/1998 - $5,526,193,008,897.62
        09/30/1997 - $5,413,146,011,397.34
        09/30/1996 - $5,224,810,939,135.73
        09/29/1995 - $4,973,982,900,709.39
        09/30/1994 - $4,692,749,910,013.32
        09/30/1993 - $4,411,488,883,139.38
        09/30/1992 - $4,064,620,655,521.66
        09/30/1991 - $3,665,303,351,697.03
        09/28/1990 - $3,233,313,451,777.25
        09/29/1989 - $2,857,430,960,187.32
        09/30/1988 - $2,602,337,712,041.16
        09/30/1987 - $2,350,276,890,953.00
        09/30/1986 - $2,125,302,616,658.42
        Source: www.treasurydirect.gov

        Comment


          #5
          More stats:

          Gross IRS collections from all sources per year:

          2011 - $2,414,952,122,000
          2010 - $2,345,055,978,000
          2009 - $2,345,337,177,000
          2008 - $2,745,035,410,000
          2007 - $2,691,537,557,000
          2006 - $2,518,680,230,000
          2005 - $2,268,895,122,000
          2004 - $2,018,502,103,000
          2003 - $1,952,929,045,000
          2000 - $2,096,916,925,000
          1990 - $1,056,365,652,000
          1980 - $0,519,375,273,000
          Source: inside back cover of TTB
          Last edited by Bees Knees; 10-03-2013, 05:22 PM.

          Comment


            #6
            Local Rev Agent out till shutdown is over

            I am working with a local Rev Agent and guess what, she is out until the shutdown is resolved. So I call the number that was left on her voice box, guess what, that guy is out until the shutdown is resolved. Now I have to call the Practitioners hot line for which I am dreading. Has anyone called the IRS the last couple days and if so can you get thru and if so, how long of wait?

            Comment


              #7
              You won't get anyone on the phone until the shutdown is over.
              You have the right to remain silent. Anything you say will be misquoted, then used against you.

              Comment

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