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74.7 billion dollars!!!

S

smp

Diamond Member
How much money is there in the states anyways?
Can someone school me on the budget and the defecit and stuff?
 
Originally posted by: desertdweller
I believe the annual budget of the government is around 4 Trillion with a GDP of around 10 Trillion.

DD
Click to expand...

Holy sh!t!!
I didn't think there was that much money in the world. Meh, 75 billion ain't much.

 
Originally posted by: smp
Holy sh!t!!
I didn't think there was that much money in the world. Meh, 75 billion ain't much.
Click to expand...
Actualy, the federal budget is about $2.2 Trillion and the GDP of the United States is about $11 Trillion...

No, $75 Billion is actually not that much money in the grand sheme of things...

: ) Hopper
 
Originally posted by: Grasshopper27
Originally posted by: smp
Holy sh!t!!
I didn't think there was that much money in the world. Meh, 75 billion ain't much.
Click to expand...
Actualy, the federal budget is about $2.2 Trillion and the GDP of the United States is about $11 Trillion...

No, $75 Billion is actually not that much money in the grand sheme of things...

: ) Hopper
Click to expand...

pocket change...
 
Originally posted by: Grasshopper27
Originally posted by: smp
Holy sh!t!!
I didn't think there was that much money in the world. Meh, 75 billion ain't much.
Click to expand...
Actualy, the federal budget is about $2.2 Trillion and the GDP of the United States is about $11 Trillion...

No, $75 Billion is actually not that much money in the grand sheme of things...

: ) Hopper
Click to expand...

Its that low? I remember hearing 4 trillion annually, maybe that number included states revenue.

Oh well, 2.2 T it is. Thanks for the clarification 🙂

DD
 
Originally posted by: desertdweller
Its that low? I remember hearing 4 trillion annually, maybe that number included states revenue.

Oh well, 2.2 T it is. Thanks for the clarification 🙂

DD
Click to expand...
Note that I said "Federal Budget"... That by def doesn't include state budgets. 😉

: ) Hopper
 
does this "federal budget" of 2.2 T include all the social security crap? haven't they been playing games with SS keeping it seperate or something?

BTW the federal debt can be viewed here - U.S. NATIONAL DEBT CLOCK

it is less than 6.5 trillion, compared to our annual gdp, it is small
 
Originally posted by: FoBoT
does this "federal budget" of 2.2 T include all the social security crap? haven't they been playing games with SS keeping it seperate or something?

BTW the federal debt can be viewed here - U.S. NATIONAL DEBT CLOCK

it is less than 6.5 trillion, compared to our annual gdp, it is small
Click to expand...
Not a lot, eh?

The estimated population of the United States is 290,841,345
so each citizen's share of this debt is $22,237.67.

Do YOU have $22 grand to give to the government? 😀

: ) Hopper
 
The debt is going to begin to be a huge problem as it increases, we need a more responsible government that doesn't waste so much money and spend more then they take in.
 
No, $75 Billion is actually not that much money in the grand sheme of things...
Click to expand...
It all depends on how you look at things. There are 290.6 million people here. 74.7 billion dollars divided by 290.6 million people is an average of $257 per man, woman, and child. Thus if everyone had a one time tax evenly applied to each person, a family of 4 would have to be taxed $1028 to pay for this war. I realize that we aren't taxed evenly. But damn that is a big number if you look at it that way.

 
the debt isn't a problem, it is small compared to our gdp

people often have mortgages for 2-3 times their annual income

companies often have even higher debt/income ratios

also, look at who is holding the debt, the majority of US treasury bonds/bill/notes are held by american retirees, we are paying for our parents/grandparents retirements with this debt, it isn't a big deal
 
Originally posted by: dullard
No, $75 Billion is actually not that much money in the grand sheme of things...
Click to expand...
It all depends on how you look at things. There are 290.6 million people here. 74.7 billion dollars divided by 290.6 million people is an average of $257 per man, woman, and child. Thus if everyone had a one time tax evenly applied to each person, a family of 4 would have to be taxed $1028 to pay for this war. I realize that we aren't taxed evenly. But damn that is a big number if you look at it that way.
Click to expand...

Actually, thanks to Bush's tax cuts, I have saved much more than $257 each of the last two years. So it wouldn't seem that big to me because that's extra money I wouldn't have had if Gore had been office.
 
Originally posted by: GTaudiophile
Doesn't the US alone account for like 25% of the world's GDP?
Click to expand...
Yes, I believe so...

The Planet's GDP is around $57 Trillion if memory serves, but don't quote me on that one...

: ) Hopper
 
Originally posted by: FoBoT
the debt isn't a problem, it is small compared to our gdp
Click to expand...

That's not why tthe debt isn't a problem. As long as America makes it look like it's trying to pay down the debt, no one gives a damn about it. Basically, if the US needs more money, it can borrow just because we're trying to pay down the debt.
 
Doesn't the US alone account for like 25% of the world's GDP?
Click to expand...

Yes. Add up Japans, Germanys and the UKs GDP, and we equal that. Thats 2-4 in the worlds top GDP list, our edge is supposed to grow bigger over the next 20 years.
 
The best part is that Bush wants to cut 14 billion from the Veteren's Benefits programs to help pay for it.



 
Originally posted by: Aceshigh
Originally posted by: dullard
No, $75 Billion is actually not that much money in the grand sheme of things...
Click to expand...
It all depends on how you look at things. There are 290.6 million people here. 74.7 billion dollars divided by 290.6 million people is an average of $257 per man, woman, and child. Thus if everyone had a one time tax evenly applied to each person, a family of 4 would have to be taxed $1028 to pay for this war. I realize that we aren't taxed evenly. But damn that is a big number if you look at it that way.
Click to expand...

Actually, thanks to Bush's tax cuts, I have saved much more than $257 each of the last two years. So it wouldn't seem that big to me because that's extra money I wouldn't have had if Gore had been office.
Click to expand...

OK, let's say you've saved $1000 in tax cuts under Bush's plans. What happens when you turn 65 and want Social Security and it's not there? Is that $1000 you saved worth the thousands you won't be getting over 35 or so years because Social Security wasn't funded due to lack of money after tax cuts? Just something to think about.
 
Hmm, if the growth is 1.4 and the inflation is 3.0 then doesn't that mean the standard of living is going to go down over the next year? I know some things like technology prices would mean you would have more buying power in that sector in 1 year, but for things like food, the standard of living would be worse, correct?
 
Originally posted by: numark
Originally posted by: Aceshigh
Originally posted by: dullard
No, $75 Billion is actually not that much money in the grand sheme of things...
Click to expand...
It all depends on how you look at things. There are 290.6 million people here. 74.7 billion dollars divided by 290.6 million people is an average of $257 per man, woman, and child. Thus if everyone had a one time tax evenly applied to each person, a family of 4 would have to be taxed $1028 to pay for this war. I realize that we aren't taxed evenly. But damn that is a big number if you look at it that way.
Click to expand...

Actually, thanks to Bush's tax cuts, I have saved much more than $257 each of the last two years. So it wouldn't seem that big to me because that's extra money I wouldn't have had if Gore had been office.
Click to expand...

OK, let's say you've saved $1000 in tax cuts under Bush's plans. What happens when you turn 65 and want Social Security and it's not there? Is that $1000 you saved worth the thousands you won't be getting over 35 or so years because Social Security wasn't funded due to lack of money after tax cuts? Just something to think about.
Click to expand...

Since about the 6th grade I've realized there would be no money left in Social Security by the time I retired. Assuming that, I have been planning for my own retirement and thus when I finally remove myself from the job market, I will have no need for a government crutch based on a flawed system of wealth redistribution. So yes, the money I save in tax cuts/credits is definately worth it.
 
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