(December 20, 2012 at 7:35 pm)TaraJo Wrote:And you guys wonder why America is the laughing stock of the world. I had to look up the phrase "fiscal cliff", what utter nonsense the USA seems to believe:
Quote:The poll's Thursday release comes less than two weeks before the country faces automatic tax increases on nearly all Americans, as well as deep federal spending cuts, if no deal is struck to avert the country from falling off the fiscal cliff at the end of the year.Why do you think the worlds looks on in horror every time one of Mr Obama's budget requires congress lifting the debt ceiling?
The USA is now some 16 trillion dollars in federal debt. But who tells you this lie? The USA does. Here's the truth. The FEDERAL government alone in the USA has this much debt:
$16,368,879,982,000
The STATE governments in the USA combined have approximately this much debt:
$4,174,802,320,000
link
Now I'm assuming that figure includes Local government debt! So all up you idiots in the USA owe:
$20,543,682,302,000
Total public debt.
Maybe you don't think the debt is so bad. After all don't other countries like Japan have higher debt-to-gdp ratios? Well yes they do, but their governments are structured differently to the USA. In the USA State revenue is high and federal revenue is low. The total REVENUE for the Federal government is $2.45 trillion.
Let's crunch those numbers so you can understand what I mean by this. The USA's Federal revenue (not state revenue) is $2.45 trillion and equals about 15.7% of GDP. Australia's federal revenue approx $376.1 Billion represents about 24.0% of GDP.
You are now in the position, FYI, that if you cut all discretionary spending in the USA and only budgeted for mandatory spending (including the interest on your debt) you would still have a deficient budget. Congratulations, you idiots.