Common Folk Using Common Sense

Says Lee DeCovnick over at American Thinker:

The Federal Government’s tidal wave of debt now exceeds $12 trillion dollars. We have plummeted an additional trillion dollars in the last 8 months.

Twelve trillion is twelve followed by 12 zeros: 12,000,000,000,000 or 12 x 10^12 . 12 trillion eggs would weigh just over 13 million tons or the weight of 19 supertankers. That works out to 149 dozen eggs for each of the 6.6 billion humans on this planet. 12 trillion gallons of milk could easily fill Lake Superior almost four times over.

Every day, each of our 1.9 million, non-military, Federal employees are happily administering the distribution of this debt to the tune of $2,995.

Each American household’s share of this debt is $103,000. Does anyone honestly foresee our taxes being raised enough to pay off this massive deficit?

The Federal Government, of course, pays interest on its $12 trillion debt. How much interest was paid last year? A staggering $383 billion dollars was incurred during the last fiscal year. That compares to NASA’s budget of $18 billion, the Department of Transportation’s budget of $74 billion, and the California state budget of $90 billion. $383 billion in annual interest could purchase four thousands homes a day in the high priced California market. That same sum is a 1,000 times greater then the distance from Earth to Jupiter in miles.

The annual interest on this debt for each household is thirty-three hundred dollars a year, or $9 a day.

If each household in America were to take a thirty year fully amortized mortgage at 5.0% on their share of the $12 trillion dollar debt, their monthly payment would be $556 a month or $6,572 a year —- for thirty years!

Your household now owes the rest of the world $103,000. Have you written your congressperson to tel them Thank You?

How is all this Hope And Change™ working out for you?

Spread The Word: