A simple Quiz

**michaelr** · 9th December 2009 03:44 PM

i can't take credit for this, i received it in a PM, the member will remain anonymous.

Quiz:

I have posted this elsewhere...what I did was take the usdebtclock numbers and break them down into nubers that people can get a handle on. I whacked off 8 decimal points and then doubled the numbers to get the below. The ratios are correct. It is scary! If this was a person they would be looking at bancruptcy and possible jail time.

I make $39,500/year, I spent $69,000 last year for a debt of $29,500. Add that to my total credit card debt for a total of $242,000. Additionally, my business commitments are for $2,129,000 million dollars. Would you lend me money? Should I cut back on my spending? Or should I consider robbing banks?

Lets have some fun.

**Sparta** · 9th December 2009 03:58 PM

haha, I just realized what that was. I was going to say bullshit, there is no way a person with that income could wind up with that commital.

**michaelr** · 9th December 2009 04:02 PM

[quote name='Sparta' date='09 December 2009 - 02:58 PM' timestamp='1260399508' post='76279']

haha, I just realized what that was. I was going to say bullshit, there is no way a person with that income could wind up with that commital.

[/quote]

It sort of puts things into perspective, doesn't it.

**Forplay** · 9th December 2009 04:09 PM

[quote name='michaelr' date='09 December 2009 - 02:44 PM' timestamp='1260398683' post='76267']

i can't take credit for this, i received it in a PM, the member will remain anonymous.

Lets have some fun.

[/quote]

Call Obama.

**justonemorevoice** · 9th December 2009 06:46 PM

is this the same one thats in nomariders signature?

http://www.usdebtclock.org/index.html

if so, i have already seen it.

**wingrider** · 10th December 2009 04:14 AM

[quote name='justonemorevoice' date='09 December 2009 - 06:46 PM' timestamp='1260409616' post='76370']

is this the same one thats in nomariders signature?

http://www.usdebtclock.org/index.html

if so, i have already seen it.

[/quote]

and what is your opinion of it or do you have one?

seems like 106T in unfunded liablilities is quite impressive

**nonsqtr** · 10th December 2009 05:55 AM

[quote name='wingrider' date='10 December 2009 - 06:14 AM' timestamp='1260443646' post='76700']

and what is your opinion of it or do you have one?

seems like 106T in unfunded liablilities is quite impressive

[/quote]

Ha ha - let's do a little quick math on that, shall we? Let's see, 106 t, and 300 million people, lop off the eight zeros,

1 060 000 and 3, so by my math that's about 300 grand a piece, in round numbers.

That's not "quite" enough to start robbing banks, but let's see, if you're a janitor making... um... let's say 30 bucks

an hour, (that's generous, right?) so that would be 10k hours, and if you're working full time that's 40x50 = 2000 hours a yr,

meaning it would take you 10/2 or 5 years to pay off the whole thing, if you had NO other expenses, and NO taxes. If you

could devote 100% of your income and working time JUST to paying off your share of the liability, it would take you 5 years.

But now, at 30 bucks an hour that's about 60k a year, and if your rent is a thousand bucks a month and let's say your other

bills are another thousand (food, utilities, car payments and insurance, gas... that's probably reasonable, right?) - and

your taxes will take 30% right off the top, so what's left is 40k - 24k, or about 16k a year. At 16k a year, how long would

it take you to pay off your liability?

Well.... um.... by my math, that's about ONE THIRD OF YOUR LIFE. And that's just YOU, that doesn't include your wife and kids.

**justonemorevoice** · 10th December 2009 06:40 AM

[quote name='wingrider' date='10 December 2009 - 06:14 AM' timestamp='1260443646' post='76700']

and what is your opinion of it or do you have one?

seems like 106T in unfunded liablilities is quite impressive

[/quote]

i think its exaggarated. is that better? btw, did you see the bottom of that page? its not affiliated with any govt agency.