Nope -- not my IQ. Let me try it again ....
9 trillion, 855 billion, 904 million, 958 thousand, 429 dollars and 32 cents - that is the currently-accepted amount of the United States economic deficit. And it has been increasing over 2.32 billion dollars per day, every day, for more than the last year straight. Hmm.
More facts for ya: In 2007, the US government collected $2 trillion, 568 billion in revenue while spending out $2 trillion, 730 billion, leading to an overall fiscal year deficit of $162 billion. The total expenditures were partially comprised by the US spending $581 billion on social security, $549 billion of "national defense" (more like warring offense), and another $561 billion on Medicare and Medicaid. Man, and I can't even go see about this freakin' anger problem I've had for 39 years.
Now we need to understand something here: it is a fact that most regular folks have no realistic concept of what even a singular billion is. Let me help: A billion is a thousand millions. The number of seconds in an entire year is only 31,536,000. If you earn $40,000 per year by working full-time all year long, then, after a 30-year career, you will have grossed only 1.2 million, which is only about 1/10 of 1% of a billion. Feelin' me?
One billion is a staggering amount to conceive of - impossible for most, in fact.
Of course, you have heard that the recent financial meltdown is going to be "repaired" by the federal government of the US. It is known as the worst situation on Wall Street since the Great Depression. The accepted bail-out figures, at this point seem to be right around $700 billion. Now, $700 billion is over 25% of what the US generates in a given year, and remember, that it is already $9,855,904,958,429.32 in the hole. At current revenue generation rates, it would take the US 14 solid years of paying that amount back to just break even - if it never spent a single penny! But remember, it is still losing an additional $160+ billion every year on top of current expenditures.
So, the question becomes, who in the heck is gonna pay? Here's a hint: You are. You and your kids, and your grand kids, and theirs, and theirs... You should never expect to see anything except increases in taxation for the rest of your life - and that won't even begin to scratch the surface.
That's right, do you believe for even a second that the US government is going to eat it? Do you believe that the politicians will take some healthy pay cuts in unselfish attempts to re-balance our upstanding planetary reputation? That's sort of like asking you if you believe that the raping that you receive at the fuel pumps every day is just a natural and innocent byproduct of wholesome governing techniques. Of course not.
US Treasury Secretary, Henry Paulson will be charged with running the show as we forge forward into further financial crippling. He is probably a pretty sharp guy - or another great kisser of hind sections like almost every other politician in existence. You can review the text of the proposed bill at the NY "Times" website by the way. Here's a snippet for you though from Section 8 of the not surprisingly-vague 3-page document: "Decisions by the Secretary [of the Treasury] pursuant to the authority of this act are non-reviewable and committed to agency discretion, and may not be reviewed in any court of law or any administrative agency."
So, the second it passes, the national deficit will instantaneously shoot up to over $11.3 trillion -- and leave a singular male human in total control with no possibility of any checks and/or balances. Hmm. There is very little indeed to protect the taxpayers that will be funding this ignorance. There will be very little easing of burden for property owners - except of course for the wealthiest magnates amongst them. Notably, the Chairman of the Federal Reserve advised Congress this past Wednesday that the risk of recession will be greatly increased if they continue with this plan.
Funny - I'm pretty sure that the economy has been recessed for a long time now already.
This is your country. Stand up and demand changes!