Have you looked at my Credit Card Statement lately? There I go being silly again. Of course you have not looked at my Credit Card Statement but, more to the point, have you looked at your Credit Card Statement lately?
My last Credit Card Statement has a warning in it for me. Yours does to. Allow me to direct your attention to your Credit Card Statement’s Dire (that’s right “dire”) Warning...
- Mine tells me my new balance is $1,902.
- It also warns me, if I make only the minimum payment each month and do not buy anything more with the card, it will take 20 years to pay off the new balance.
What did I just hear you say to yourself? Did I just hear you say to yourself, “I’ll just get a few more credit cards and get my stuff with them”. I wish I had not heard you say that to yourself.
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Are my numbers too small to make an impact on you? Let’s try some actual big numbers from one of our USofA’s states.
This state has Unfunded Pension Liability of $83,000,000,000...
Otherwise known as 83 Billion Dollars otherwise known as 83 Thousand Million Dollars
Do I see you starting to fog over at my attempt to get you to be concerned for this state’s predicament? Allow me to try again...
As of the end of September this silly state has $6,000,000,000 in Unpaid Bills...
Otherwise known as 6 Billion Dollars otherwise known as 6 Thousand Million Dollars
There are other states in similar dire situations and their “leaders” don’t seem to be concerned either.
How could any official in any of these states not be in a state of panic? Panic is nowhere to be seen because, as Senator Foghorn Leghorn would say to us...
“Why, son, don’t you understand that we have shopping to do and it’s football season, son, by golly, I say again, It’s Football Season!”
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Now would you like me to go on and put together a similar analysis of our Federal Governments fiscal situation? I can’t do it. My computer does not have enough words and numbers inside it to do this Untenable, Unsustainable, Unbelievable situation justice.
Just for a moment think about this one point. Can you even imagine how much Interest we are paying? Are we even making the Minimum Payment on this Credit Card Bill? If we are making the minimum payment, it does not make the Smartfella feel one bit better.
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I’m exhausted and you are tired of me so I’ll close with this...
Our Federal Debt is 16 Trillion Dollars and growing every minute.
Did I just hear you say to yourself, “Sixteen isn't that much”? Think about it this way...
Sixteen Trillion Dollars Is Sixteen Thousand Billion Dollars!
Our debt is growing at more than $3.5 Billion a day and that’s much.
Would I kid u?
More: Did I just hear you say to yourself, “3.5 isn’t much. Why that’s not even 4.”? You know, sometimes I wish I did not have the gift of being able to hear what you say to yourself.
1 comment:
Time for QE4 then QE5.. Ole Warren Buffett back in 07 wasn't concerned about no fiscal debt by golly. To the contrary, the saw rosy times ahead and saw the pie getting bigger for everybody....Ole uncle Warren.....Personally uncle Tennessee Ernie Ford was closer to the truth, "a little bit older and deeper in debt."
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