Wake up

[Guru]

The numbers are shocking. Anybody, regardless of party, that is spending 70% more than he makes, that can’t come up with anything more than measly 1% cut in expenses but thinks he should somehow steal more from the ‘rich’ to supplement his income …. is a pathetic liar and/or a complete fool. Yes, we need change alright.

I looked at usdebtclock.org and looked at the numbers… the following story emerges:

You are living on an small island with a few thousand people and you have a king. You pay your dues to the king. The king employs people in the army and some others to provide services. He protects you from invasions from enemies on other islands, resolves disputes and when there is a hurricane or other problem, provides assistance in rebuilding….
You are an average person doing your daily things, making a modest living and trust the king to do his part. You see that the king seems to be living a very lavish life style, hiring more servants, making gifts, acting grandiose, sending his troops to other islands … you wonder how he can afford it … but he is the king and so you assume that he knows about these things. He keeps providing the protection and the help with the hurricanes... so life goes on. Occasionally, the king comes and demands more of your money and you think of resisting until you also think of jail time and you pay up.
You are an 'average' guy, making a living and paying his dues
- Annual Income 100k
- Annual Expenses 90k (incl. taxes)
- Debt 126k (Mortgage 106k, other 20k i.e. total debt ~ 1.2 times annual income)
Life is hard, but you manage to feed your family, keep a roof over your heads and save a bit.

Time goes on and you start hearing that 'we' are all in trouble... that the king cannot make his payments and keep up.. You wonder, I have been paying my dues, I'm roughly in control of my life but somehow the king has been reckless not managed his money well?
So we ask, "How bad is it, king”? Well, pretty bad…
- Annual Income: 100,000k
- Annual Expenses: 167,000k (70% higher than income!)
- Debt: 680,000k (i.e. Debt is ~7 times annual income!!)
So, you say, my God it is true. This king has no clothes. He has been living well beyond his means all along… this is like me having a 700% higher debt than I have now and look he doesn’t care and is spending 70% more than he makes!! But the king says, “Well, this is ‘our’ problem and ‘we’ need to fix this together”. He asks the courtiers and they come up with ‘stringent’ deep cuts in the king's wining & dining expenses for a heroic 1% cut in his expenses. The king is still going to spend 69% more than he makes. The people are outraged and concerned. The king makes speeches, “… protecting you all is a tough business. My father left me a lot of debt… We made a lot of ‘investments’ (that don’t seem to have panned out yet!) … ‘we’ need sacrifices.. we have made deep cuts and can’t afford to cut anymore or some of you will die... Some of you ‘rich’ guys out there, especially the ones that have already sacrificed daily and saved all your lives, you can afford to pay more … spread the wealth around ... contribute and 'invest' in the kind of future that I have in mind for you all”… you say WHAT?
How is this ‘my’ debt? I gave up on a lot to save for the few things I have. I live within my means and I pay my dues. So, king, if you didn’t manage your finances, don’t shove your problems on me. Get the hell aside and let some of us that know how real world works, start to deal with your mess.
So, our dear fearless king, you are like a drug addict who is in total denial … forget about stealing more of my money for your drugs. First step is to acknowledge, "I am an addict and boy, I am really screwed up"… seek real help... and focus on kicking the habit starting right now.