Saturday, September 24, 2011

Obama's Beach Party Recovery - a terrific YouTube lesson

Prime Minister Margaret Thatcher said, "...and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people's money. It's quite a characteristic of them."

 I post few videos here, but this one is worth your time and lasts 4 1/2 minutes:
It seems like a good time to rerun this popular email:  WHAT DEBT PROBLEM?

S&P downgrade - this puts it in perspective...

  . U.S. Tax revenue: $2,170,000,000,000
  . Fed budget: $3,820,000,000,000
  . New debt: $ 1,650,000,000,000
  . National debt: $14,271,000,000,000
  . Recent budget cut:  $38,500,000,000

Let's remove 8 zeros and pretend it's a household budget:

  . Annual family income: $21,700
  . Money the family spent: $38,200
  . New debt on the credit card: $16,500
  . Outstanding balance on the credit card: $142,710
  . Total budget cuts: $385

No worries. We're just fine. We'll be pulling out of this any day now. I can feel it.

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