{"id":4452,"date":"2013-10-18T09:14:46","date_gmt":"2013-10-18T13:14:46","guid":{"rendered":"https:\/\/www.bygeorgejournal.ca\/?p=4452"},"modified":"2013-11-20T17:00:56","modified_gmt":"2013-11-20T22:00:56","slug":"the-u-s-financial-crisis-explained","status":"publish","type":"post","link":"https:\/\/www.bygeorgejournal.ca\/?p=4452","title":{"rendered":"The U.S. Financial Crisis Explained"},"content":{"rendered":"<p><!--[if gte mso 9]><xml>\n<w:WordDocument>\n<w:View>Normal<\/w:View>\n<w:Zoom>0<\/w:Zoom>\n<w:PunctuationKerning\/>\n<w:ValidateAgainstSchemas\/>\n<w:SaveIfXMLInvalid>false<\/w:SaveIfXMLInvalid>\n<w:IgnoreMixedContent>false<\/w:IgnoreMixedContent>\n<w:AlwaysShowPlaceholderText>false<\/w:AlwaysShowPlaceholderText>\n<w:Compatibility>\n<w:BreakWrappedTables\/>\n<w:SnapToGridInCell\/>\n<w:WrapTextWithPunct\/>\n<w:UseAsianBreakRules\/>\n<w:DontGrowAutofit\/>\n<w:UseFELayout\/>\n<\/w:Compatibility>\n<w:BrowserLevel>MicrosoftInternetExplorer4<\/w:BrowserLevel>\n<\/w:WordDocument>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml>\n<w:LatentStyles DefLockedState=\"false\" LatentStyleCount=\"156\">\n<\/w:LatentStyles>\n<\/xml><![endif]--><!--[if !mso]><object classid=\"clsid:38481807-CA0E-42D2-BF39-B33AF135CC4D\" id=ieooui><\/object>\n\n\n\n<style>\nst1\\:*{behavior:url(#ieooui) }\n<\/style>\n\n<![endif]--><!--[if gte mso 10]>\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n\t{mso-style-name:\"Table Normal\";\n\tmso-tstyle-rowband-size:0;\n\tmso-tstyle-colband-size:0;\n\tmso-style-noshow:yes;\n\tmso-style-parent:\"\";\n\tmso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n\tmso-para-margin:0cm;\n\tmso-para-margin-bottom:.0001pt;\n\tmso-pagination:widow-orphan;\n\tfont-size:10.0pt;\n\tfont-family:\"Times New Roman\";\n\tmso-ansi-language:#0400;\n\tmso-fareast-language:#0400;\n\tmso-bidi-language:#0400;}\n<\/style>\n\n<![endif]--><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: 11.0pt; font-family: Georgia;\">Here\u2019s the story. <\/span><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Can you imagine running a country with these numbers?<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">U.S. Tax Revenue: $2,170,000,000,000<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Federal Budget: $3,820,000,000,000<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">New Debt: $ 1,650,000,000,000<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">National Debt: $16,271,000,000,000<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Recent Budget Cut: $ 38,500,000,000\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"MsoNormal\"><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">It this hard to factor? Well, remove a total of eight zeros and pretend it\u2019s a household budget.\u00a0\u00a0\u00a0<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Annual Family Income: $21,700<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Money Family Spends in a Year: $38,200<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">New Debt on the Credit Cards: $16,500<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Outstanding Balance on Credit Cards: $162,710<\/span><\/li>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Total Budget Cut this Year: $385\u00a0\u00a0\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<p class=\"MsoNormal\"><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Does this at all make sense?! American politicians are talking about raising the debt ceiling so that they can carry on. <span style=\"mso-spacerun: yes;\">\u00a0<\/span>So, here&#8217;s a neat little analogy for the debt ceiling issue: <\/span><\/p>\n<ul>\n<li><span style=\"font-size: 11.0pt; font-family: Georgia; mso-fareast-font-family: 'MS Mincho';\">Let&#8217;s say, you come home from work and find there has been a sewer backup in your neighborhood and your home has sewage all the way up to your ceiling. What do you think you should do&#8230;&#8230; raise the ceiling? or remove the slop?<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s the story. Can you imagine running a country with these numbers? 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: $16,271,000,000,000 Recent Budget Cut: $ 38,500,000,000\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 It this hard to factor? Well, remove a total of eight zeros and pretend it\u2019s a household budget.\u00a0\u00a0\u00a0 Annual Family Income: $21,700 Money Family&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[30],"_links":{"self":[{"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/posts\/4452"}],"collection":[{"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4452"}],"version-history":[{"count":3,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/posts\/4452\/revisions"}],"predecessor-version":[{"id":4587,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=\/wp\/v2\/posts\/4452\/revisions\/4587"}],"wp:attachment":[{"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bygeorgejournal.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}