interesting shot. i occupied the de young
last night (masters of venice) but i think
that signs like the above and others i've
seen, like "occupy the mall,"
detract from and make a joke of a very
serious social movement.
Donna: thanks for the reminder, agreed: i
would not want to contribute more to the
confusion about what OWS stands for. I have
rewritten the main comment in this better page .
".. This shows how long daddy government
can still fund the banks messed up behavior:
* U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000
Let’s now 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 * Total budget cuts: $385″.
Simple huh? But wait, there’s more! This uses
the total debt figure of $14 Trillion (now
over $15 Trillion) but in reality if you
include the “off books” debt, the total is
over $100 Trillion. So using this example
above, the family making $21,700 per year has
a credit card balance of roughly $1 Million!
Of course the credit card’s interest rate is
at the very low current “teaser rates” but
what will happen to this family ( US, as in
all of us!) when the teaser rates expire and
are replaced with modest market rates of
say…6 or even 7%? At 7% interest rates, a
full one half of government tax revenues will
go to paying off interest…and ONLY INTEREST!
"
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Comments and faves
NYCandre (17 months ago | reply)
...
ms.donnalee / donna cleveland (17 months ago | reply)
interesting shot. i occupied the de young last night (masters of venice) but i think that signs like the above and others i've seen, like "occupy the mall," detract from and make a joke of a very serious social movement.
NYCandre (17 months ago | reply)
Donna: thanks for the reminder, agreed: i would not want to contribute more to the confusion about what OWS stands for. I have rewritten the main comment in this better page .
This photo was invited and added to the Global Photojournalism; Politics, News, Protest, and Culture group.
Cristina Sartori added this photo to their favorites. (17 months ago)
Cristina Sartori (17 months ago | reply)
Excelente foto!
NYCandre (17 months ago | reply)
".. This shows how long daddy government can still fund the banks messed up behavior:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now 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
* Total budget cuts: $385″.
Simple huh? But wait, there’s more! This uses the total debt figure of $14 Trillion (now over $15 Trillion) but in reality if you include the “off books” debt, the total is over $100 Trillion. So using this example above, the family making $21,700 per year has a credit card balance of roughly $1 Million! Of course the credit card’s interest rate is at the very low current “teaser rates” but what will happen to this family ( US, as in all of us!) when the teaser rates expire and are replaced with modest market rates of say…6 or even 7%? At 7% interest rates, a full one half of government tax revenues will go to paying off interest…and ONLY INTEREST! "
From jaredbernsteinblog.com/me-not-scared-of-big-n umbers/