Just how stagering is the National Debt

[gunderwood]

1. According to the debt clock when I checked it, the national debt is: $13.470T. According to Wikipeida, the estimate tax receipts for 2010 are 2.381T.

Thus, it would take 5.66 years of no government spending to pay the debt off.



2. The Fortune 500 list captures the 500 largest US companies. How long would it take them to pay off the current government debt (assuming government doesn't add anymore)? The last list shows profits to be $391B for all 500 companies (way up from 2008 as companies shed employees). If we taxed them 100% of their profits and assumed a 4.7% annual profit increase (F500 historical average increase) we get:

21 years!

[zephyp]

What irks me is all the hubub from left and right about taxes as an option to reduce the debt. Reduce spending and eliminate waste is more like it.

Here's a nice link for ya...look at those red numbers whiz by....wheeee...many of these politicians need to be literally tarred and feathered...

http://www.usdebtclock.org/

But the US total debt is more like $54T....and increasing.

[VBshooter]

The words STOP,LESS and SMALLER seem to be three that all politicians have a problem with... THey can all preach about smaller government and less spending but will they deliver on those promises? The first thing I would do is lay off every Federal employee that are not needed due to their jobs going away due to extinction. Screw the Unions.. Savings are incalcuable but massive. Foreign Aid would only be given in extreme circumstances and the UN would have to find another home, Condos might look good in its place,,,,All the hand out programs,federal bailouts and extortion to the states would be ended also..I am really curious to see if the next batch of Congressman actually do downsize the government, spend less money and stop expansion or continue to feed the bloated pig it has become..

[zephyp]

I am really curious to see if the next batch of Congressman actually do downsize the government, spend less money and stop expansion or continue to feed the bloated pig it has become..

Spence, please dont hold your breath. That can cause serious injury. We like you and would hate to see you suffer brain damage from lack of oxygen. Also and almost as important, curiosity killed the cat...and he wasnt even holding his breath...

[gunderwood]

The words STOP,LESS and SMALLER seem to be three that all politicians have a problem with... THey can all preach about smaller government and less spending but will they deliver on those promises? The first thing I would do is lay off every Federal employee that are not needed due to their jobs going away due to extinction. Screw the Unions.. Savings are incalcuable but massive. Foreign Aid would only be given in extreme circumstances and the UN would have to find another home, Condos might look good in its place,,,,All the hand out programs,federal bailouts and extortion to the states would be ended also..I am really curious to see if the next batch of Congressman actually do downsize the government, spend less money and stop expansion or continue to feed the bloated pig it has become..

While I would prefer more, I'd be quite happy and amazed if Tea Party and such victories could just freeze the size of government. It would be a hard fought miracle if it just stopped growing.

[VBshooter]

It definitley gives us something to shoot for.....One thing at a time.......