Government Shutdown

[Bees Knees]

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

[buzzardbreath]

The Cuts

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

[David1980]

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.

[Bees Knees]

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

[Bees Knees]

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

[AZ-Tax]

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?

[WhiteOleander]

You won't get anyone on the phone until the shutdown is over.