Flake says national debt could buy each American 62 iPhone Xs
It turns out that the amount of debt the U.S. is in would buy every American -- all 323.1 million of them -- more than 60 of Apple's iPhone X.
Phil Schiller, Apple's senior vice president of worldwide marketing, announces features of the new iPhone X at the Steve Jobs Theater on the new Apple campus on Tuesday, Sept. 12, 2017, in Cupertino, Calif. (AP Photo/Marcio Jose Sanchez)
(AP Photo/Marcio Jose Sanchez)
PHOENIX — It turns out that the amount of debt the United States is in would buy every American — all 323.1 million of them — more than 60 of Apple’s newest device, the iPhone X.
U.S. Sen. Jeff Flake (R-Ariz.) used a pun-loaded analogy to put the $20.2 trillion national debt in more relatable terms.
“A $20 trillion national debt is app-solutely unacceptable,” the senator said in a statement. “Congress needs to stop phoning it in and get Siri-ous about this crisis it has refused to FaceTime and time again.”
The phone will be sold for $999. The national debt could purchase more than 20.2 billion iPhone Xs — meaning every American could be handed 62 of the devices.
Flake, who has been opposed to the rising national debt, introduced a bill earlier this year that would allow taxpayers to earmark a portion of their taxes to reduce the debt.
“It’s time taxpayers had real power to reign in Washington’s big spenders,” Flake said when introducing the bill. “At any rate, I hope this common sense solution makes like the national debt and grows a lot of interest.”
The bill, called the Debt-Buy Down Act, would also force Congress to make cuts to match the amount contributed by taxpayers to ensure the money goes to reducing the deficit.
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Comments
1 Comments
Unfortunately, politicians aren't able to explain why national debt is bad. The iPhone analogy is nothing but a gimmick.
Simple explanation why national debt is bad should be that when a country has debt, it has to pay interest on the debt. Presently 7% of Federal Budget is being used up to pay interest on the debt (by contrast about 2% is being spent on infrastructure!). Because the debt keeps increasing, the 7% will keep increasing (will go up to about 10% in 2020). Eventually how much of the Federal Budget we want to spend in paying interest on the debt? 20%, 30%? That will leave less and less money to spend on all other things. Country and its people will become poorer!