Thursday, April 19, 2012

Gen O Discovers Washington's Debt Bomb

The young are waking up to the stone cold reality of the debt bomb; after all, it's their burden and future taxes. Debt Bomb was created by a University of TX engineering student and is a 99 cent app.
You're breathing a sigh of relief because you've filed your taxes for 2011. But what if your taxes reflected the true cost of the federal government's annual expenditures? How much more would you have to pay? To find out how much that true cost might be, go to Debt Bomb, a new 99-cent app launched last week for your iPhone, iPod Touch, or iPad. You key in your age, your income, your expected income over the next few years, and the software will give you your household's average tax bill to cover Uncle Sam's annual spending. Then, through the app, you can email or tweet President Obama and your congressional representatives and tell them to cut spending, raise taxes, or some combination. To show them you are serious, you could tell them which programs to cut, whether agriculture, unemployment benefits, high-speed rail, mass transit, energy loan guarantees, or others. Debt Bomb is the brainchild of 25-year old Kyle Smith, who's getting his MS in engineering at the University of Texas.
Read the rest here
Real Clear Markets 

Judy Morris,
Blogger, THL
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