Santelli On The U.S. Budget

16 Replies to “Santelli On The U.S. Budget”

1. China will be the next superpower, based on a number of key factors including they don’t add to their debt every time they build or buy another nuke submarine.
   I wonder if the Rosetta people offer a course in Mandarin?
   http://www.rosettastone.com/

2. . . . because Obama is an economics genius.

3. Santelli must have some dirt on CNBC execs. Given the left slant of the rest of the entire network I don’t get how he still has a job there?

4. A voice of reason in the midst of hard left socialist retardation.

5. That $385 line against the $151 THOUSAND line -AND- the new income v spending lines should be taught to every grade schooler in North America.

6. I first saw that here in the comments section of SDA during the debt crisis in the summer. Call it another case of SDA gets results.

7. That summary needs to show interest payments and who it’s paid to, ie China.
   Does anyone have the stats for Canada?

8. Canadian Debt Clock here:
   http://www.debtclock.ca/
   2011 Canadian budget, according to Wikipedia:
   http://en.wikipedia.org/wiki/2011_Canadian_federal_budget
   $235.6 billion Total revenue
   $276.0 billion Total expenditures
   $278.7 billion Program spending
   $ 33.0 billion Debt payment
   $ 29.6 billion Deficit
   $586.0 billion Debt

9. About my earlier post: reduced to household numbers, we make $235 a year and spend $278 a year. We have $586 on our VISA, and paid $2.75 a month last year to pay off $33.
   Assuming we don’t accumulate further debt, and continuing to make a payment of $2.75 per month at 1% interest, it will take us more than 19 years to pay off the $586.
   We are so beyond doomed that the light from doomed will take a million years to reach us.

10. “China will be the next superpower, based on a number of key factors including they don’t add to their debt every time they build or buy another nuke submarine.”
    hiccup at December 15, 2011 1:12 PM
    I have to disagree with your statement. As many have pointed out, China has other problems that will come into play long before they achieve super power status. Their housing bubble is in the process of bursting and I believe it was Mark Steyn who said that China will get old before it gets rich.
    http://www.telegraph.co.uk/comment/personal-view/3617572/Who-can-stop-the-rise-and-rise-of-China-The-communists-of-course.html
    http://www.telegraph.co.uk/finance/china-business/8957289/Chinas-epic-hangover-begins.html

11. I posted same chart about 6 months ago. Can’t remember where I got it but saved it under favorites.
    Decline And Fall Of The American Empire
    Why S&P Downgraded the US:
    U.S. Tax revenue: $2,170,000,000,000
    Federal budget: $3,820,000,000,000
    New debt: $ 1,650,000,000,000
    National debt: $14,271,000,000,000
    Recent [April] 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
    Budget cuts: $385
    Now if it would only work its way up to Obamas office….. it probably would’nt change a thing.

12. Rick Santelli for president.

13. Santelli hasn’t included state debt in his household figures.. not that that would have these figures as, “household debt” make any more sense.

14. Lickmuffin:
    Great Canadian perspective. Might I suggest you also look at provincial debt and unfunded social programs. Add all that up and you discover that Canadians probably owe more per capita than Americans. I won’t say that is definitive as who really knows the true situation. I point it out simply because many Canadians are under the illusion that we are better off than our American cousins. Even if each citizen on both sides of the border owed equal amounts Canadians are still at a disadvantage. I would argue the USA economy has more potential for recovery.
    A classic example of where we are today is the new border crossing being built in upper state NY. A $7 million project which the state senator demanded be continued even after Canada informed the Americans that they were closing the crossing. “The project was feeding to many contractor’s families to be shut down!” What more can you say.

15. Support for Rick Santelli for President is snowballing throughout the country. Rick Santelli is the “Real Deal” – a straight-shooting, non-politician who understands the issues and will do what is needed to lead the process that fixes our great country. http://www.draftsantelliforpresident2012.com

16. Support for Rick Santelli for President is snowballing throughout the country. Rick Santelli is the “Real Deal” – a straight-shooting, non-politician who understands the issues and will do what is needed to lead the process that fixes our great country. http://www.draftsantelliforpresident2012.com