The US is borrowing over $400 per month, per citizen. Can you afford that?

Debt per Second

Ok so I saw that the US is borrowing at a rate of $58,000 per second and thought I would crunch some numbers to make better sense of that figure. Here we go.

$58,000 per second * 60 seconds = $3,480,000 per minute
I heard Sarah Palin give the figure of $3 million per minute today in a Tea Party speech.

So I thought $3 million per minute equals about 1 cent per citizen per minute.
$3,000,000 divided by 300,000,000 citizens = $0.01

$0.01 per minute * 60 minutes = $0.60 an hour

$0.60 an hour * 24 hours = $14.40 a day

$14.40 * 30 days = $432 per month.

Well there you have it.

The US is borrowing at a rate of over $400 per month per citizen.

Where’s the outrage?

can you afford the other 600$ that the USA spends (which it has) either?

second

reply to post by Biigs
[more

If that's the actual figure, that brings us to $1,000 per citizen per month. WTF, right?

Looks like people are treating this thread the same way they would treat a bill collector.

I ain't spending "crap" literally...I know better than to spend on a reduced income;I have cut my personal spending to nil: I have no( zero) control over what the bozo's on the hill do( I "wash my hands of that zoo"). Y'all want to feel guilty or obligated to feed the world ( que Kro32 anytime now)go right ahead without me..

Originally posted by IndieA
reply to post by Biigs
[more

If that's the actual figure, that brings us to $1,000 per citizen per month. WTF, right?

edit on 3-9-2011 by IndieA because: (no reason given)

Yes.

Ignore taxes or economys for a breif second. then yes the goverment spends 1$k every month on every tax paying citezen.

Most do not pay anywhere near that back in tax, and thats the way it should be, your country works for you as well as with you.

Tax gets the ball rolling.

you guys are in so far over your heads

current nation debt of the us exceeds 14 trillion.

do you even know what that means, or looks like?

i think we've grown numb to numbers that big, they don't mean anything to us 'normal' people.

to give you guys an impression of your debt.

here's on trillion:

[atsimg]http://files.abovetopsecret.com/images/member/94495054db6a.jpg[/atsimg]

Notice those pallets are double stacked. ...and remember those are $100 bills.

also notice the person on the left bottom side...

this 14 times!! is your national debt.

absolutely mindblowing..




ETA:

you debt is so massive it doesn't even fit on ATS properly

Money is a funny thing isnt it.

That stack looks like bricks on a building site, yet in actual fact millions of poeple would fight over paper with ink on.

Things get a bit disdracted when they are put in ways indeviduals can comprehend.

Im so very glad im not in charge of anything like that, imagine the pressure.

Does china owe anything to anyone?

I can't even afford my $10 a month Zune subscription. You fill in the blank lol

Originally posted by Biigs
can you afford the other 600$ that the USA spends (which it has) either?

second

Well, my taxes are quite a bit more than that per month... who's not pulling their load around here? I think we need to track those folks down and have a little talk and then track the spenders themselves down and have a very big talk.

Originally posted by IndieA
Debt per Second

Ok so I saw that the US is borrowing at a rate of $58,000 per second and thought I would crunch some numbers to make better sense of that figure. Here we go.

$58,000 per second * 60 seconds = $3,480,000 per minute
I heard Sarah Palin give the figure of $3 million per minute today in a Tea Party speech.

So I thought $3 million per minute equals about 1 cent per citizen per minute.
$3,000,000 divided by 300,000,000 citizens = $0.01

$0.01 per minute * 60 minutes = $0.60 an hour

We are spending way too much and we should concentrate more on our citizens and reduce spending in several areas immediately. One of these areas...Foreign Aid. We give BILLIONS to other countries and if the shoe was on the other foot....I doubt they would do the same for us.

As far as the Deficit....one 8 year period of economic boom is enough to lift us out of our current problem. This must go hand in hand with budget cuts and tax reform. Split Infinity

$0.60 an hour * 24 hours = $14.40 a day

$14.40 * 30 days = $432 per month.

Well there you have it.

The US is borrowing at a rate of over $400 per month per citizen.

Where’s the outrage?

reply to post by IndieA


And yet...

Having taken their blunt budget ax to Medicare, Medicaid, Head Start, EPA, NPR, and dozens of other popular and effective programs, they (Republican congressional leaders) then scampered to save one of the least popular and least effective federal programs on the books: the annual taxpayer subsidy for Big Oil.

As gasoline prices were rising to $4-a-gallon and higher, the House GOP voted unanimously to let the oil giants continue siphoning $4 billion a year out of our public treasury.
All 241 of the Republican/Tea Party House members—with not even one dissenter in the bunch—declared that in this time of a supposed budget “crisis,” the neediest among us are not the elderly and the poor, but the little waifs of Big Oil.

Meanwhile, ExxonMobil just announced a 69 percent leap in profits this year, while Chevron, ConocoPhillips and others are enjoying similar jumps in theirs. Guess what percentage of those enormous profits the corporations are likely to pay in taxes? Zilch.

Their lobbyists have punched such gaping loopholes in our tax code that they can escape paying anything for the privileges and benefits they get from America.

Exxon, for one oily example, had a $19-billion profit in 2009, but not only did it pay exactly zero in federal income taxes, it manipulated the system to get a $156 million rebate from us.

Likewise, Chevron, and ConocoPhillips had multibillion-dollar profits that year, paid not a dime in taxes, and also got refunds.

Republican lawmakers had a clear choice in dealing with the deficit.
So why did they choose to cut off your granny’s health care, while helping these corporate billionaires make off like bandits? www.texasobserver.org...

Originally posted by newcovenant
reply to post by IndieA

 

And yet...

Having taken their blunt budget ax to Medicare, Medicaid, Head Start, EPA, NPR, and dozens of other popular and effective programs, they (Republican congressional leaders) then scampered to save one of the least popular and least effective federal programs on the books: the annual taxpayer subsidy for Big Oil.

As gasoline prices were rising to $4-a-gallon and higher, the House GOP voted unanimously to let the oil giants continue siphoning $4 billion a year out of our public treasury.
All 241 of the Republican/Tea Party House members—with not even one dissenter in the bunch—declared that in this time of a supposed budget “crisis,” the neediest among us are not the elderly and the poor, but the little waifs of Big Oil.

Meanwhile, ExxonMobil just announced a 69 percent leap in profits this year, while Chevron, ConocoPhillips and others are enjoying similar jumps in theirs. Guess what percentage of those enormous profits the corporations are likely to pay in taxes? Zilch.

Their lobbyists have punched such gaping loopholes in our tax code that they can escape paying anything for the privileges and benefits they get from America.

Exxon, for one oily example, had a $19-billion profit in 2009, but not only did it pay exactly zero in federal income taxes, it manipulated the system to get a $156 million rebate from us.

Likewise, Chevron, and ConocoPhillips had multibillion-dollar profits that year, paid not a dime in taxes, and also got refunds.

Republican lawmakers had a clear choice in dealing with the deficit.
So why did they choose to cut off your granny’s health care, while helping these corporate billionaires make off like bandits? www.texasobserver.org...

edit on 4-9-2011 by newcovenant because: (no reason given)

There's something, some kind of power, the president wields. Vitality? Vim? Vigor? Something that starts with a "V". It stops things from happening that he doesn't want to happen. For the life of me I can't remember what that word is.

Anyone?

/TOA

reply to post by The Old American


star for you and newcovenant.

i think all hope is lost at this point.

NOTHING is going to wake enough of us up anymore...


newcovenant, thanks for bringing that article to my attention.
it got me again...

TOA, you just made me laugh

thanks for making my morning you two!

reply to post by The Old American


What an awesome point, I just watched Inside Job and the mess the banks made which contributed to the GFC.

So add the oil companies to that, you have probably got the 2 largest institutions in the US raping their own country.

Bend over and take it guys.

Unbelievable - and yet again, the little guy pays for the big guys greed and all they lose is a little of their massive bonuses.

I would love to see these people in front of the American Inquisition, a court established by the people for the people with Americans interests at heart and treason and beheading for those who served the country to line their own pockets.

reply to post by burdman30ott6

out of those 300 million citizens how many are paying taxes? in a cursory search i found that in 2003, that number was around 150 million.


thats bad enough as it is, but unfortunately there are many people, generally low income families with children who actually get more money back in their tax return than they pay all year.

then on the other side of the coin you have very wealthy people, and corporations that due to loop holes and tax incentives and that sort of thing that pay little to nothing as well.

so in the end you have single men and women, and middle income families paying the majority of the tax, which is probably 1/3 of the population, not including illegals.

so basically theyre borrowing much more than that relative to actual taxpayers, and i think i can speak for everyone when i say no we cant afford it.

yes well $432 per month x 12 months = $5184 per year per person in USA

reply to post by The Old American


Is it Viagra?