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12.7.15

There is difference between deficit and debt.



Jon Gabriel Ricochet's chart


According to this information it is probably a good idea to elect a Republican president who at least does not have to goal to bankrupt the USA.







From Jon Ricochet

"The D.C. press corps was giddy last night, declaring that the fiscal crisis had ended. Senators praised "honorable friends" from "great states," congressmembers gave standing O's to their stalwart leaders, and the president saluted bipartisanship while ridiculing Republicans, bloggers, activists and pretty much anyone else who dared oppose him.

If the whole thing seemed a bit surreal, it's because the whole thing was a bit surreal. America's fiscal crisis is not that our debt ceiling isn't quite high enough — it's that we have too much debt.

It's as if I had $250K in credit card debt and I told my wife, "Great news, honey — our fiscal crisis is over! I just got a new Visa!" If she didn't hit me over the head with a rolling pin, she would most assuredly tell me where I should place it.

To help visualize how up the creek we find ourselves, I created the infographic above.

It's an imperfect analogy, but imagine the green is your salary, the yellow is the amount you're spending over your salary, and the red is your MasterCard statement. Before sharing this info with your spouse, I recommend you hide the rolling pin."