October 5, 2021
It is too easy to spend other people’s money
By Jeff M. Lewis
As I write in early October 2021, the U.S. National Debt Clock exceeds an utterly sickening $28.8 trillion. That is the number 28 with 12—twelve—more numbers behind it!
Let’s try a little exercise using some of the numbers from the debt clock, but let’s lop off eight zeros to make it a comprehensible number—a “household number.” It also makes it easier because those eight numbers furthest to the right on the clock are increasing so rapidly as to make the number inaccurate in just a few minutes.
Use the link, try it at home with your family, too! Consider all this:
Annual income stated as U.S. Federal Tax Revenue ($3.8675 trillion). For our purposes, our annual income is $38,675.
Our annual spending, represented by official (not actual) U.S. Federal Spending is $6.8679 trillion; we will consider the number $68,679.
Our annual budget deficit is over $3.0004 trillion, or, for us, $30,004.
We can immediately see that we have a major issue here because we are spending almost double our annual income and increasing our debt by massive amounts every year.
It gets worse.
more
https://www.americanthinker.com/blog/2021/10/it_is_too_easy_to_spend_other_peoples_money.html
