is my personal budget the same thing as my personal income statement?
I need help. I'm confused.

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would it be fair to cut all government wages and payments by 20%?
Since July 2008, over 60% of privately employed Americans have lost their jobs. Those 60% took, on average, a 31% pay and benefits cut, plus were unemployed for 33 weeks. The situation continues -- new unemployment filings are still running at over 1% of the privately employed workers per month and they're still staying unemployed for about 8 months and still taking massive pay and benefits cuts to get a new job. Work out the average pay and benefits loss for all privately employed workers -- we'll hit 20% by July. [source for all the above -- analysis of Bureau of Labor Statistics reports.] *** Since the private sector has already taken a 20% pay and benefits cut in this recession -- I suggest that it would be only fair for all government employees and beneficiaries to take the same 20% cut. This would take the form of an across the board 20% wage reduction for all government employees, plus a 20% reduction in Social Security and Disability payments, plus a 20% increase in Medicare and Medicaid co-pays, and a 20% reduction in all government pensions. *** Think of how much this would contribute to fixing the national and state budgets. Think of how much it would reduce the "unfunded pension liability" of every level of government. The post office wouldn't be losing money any more and delivery could continue six days a week. Teachers wouldn't be laid off and class sizes wouldn't be forced up. University tuitions wouldn't be going up 15 or 20 percent per year. And your tax bills might actually go down. *** All because we the people decided that our government is to go on the same budget cutting program that we've already endured. Would this 20 percent cut be fair?? If not -- what's your proposal -- note that repealing the Bush tax cuts is only about 1/5th of the budget deficit and thus won't be anywhere near enough. {full disclosure -- yes, this 20% cut would take a chunk out of our personal budget just like that of any other retired folk.}

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Consumer math help !?
1. What percentage of your net income or realized income should be spent on housing? (Points: 10) 36% 28% 23% 40% 2. What percentage of your net income or realized income should be spent on all required expenses such as housing, taxes and child support payments? (Points: 10) 36% 28% 23% 40% 3. If your net income or realized income is $1,400.00 per month how much should be spent on housing? (Points: 10) $504.00 $392.00 $322.00 $560.00 4. If your net income or realized income is $1,400.00 per month how much should be spent on all required expenses such as housing, taxes and child support payments? (Points: 10) $504.00 $392.00 $322.00 $560.00 5. Which of these is considered a luxury item? (Points: 10) an apartment or house Starbucks coffee replacement refrigerator mortgage insurance 6. Fixed expenses such as housing payments, insurances, car payments and utilities can be reduced quickly by keeping a list and adjusting the amounts on a monthly basis. (Points: 10) True False 7. When a person spends more money than the individual receives in net or realized income, they can be said to be in a budget ________? (Points: 10) surplus savings deficit debt 8. Which of the following are ways to balance your personal budget? (Points: 10) reduce luxury spending increase income increase fixed expenses reduce fixed expenses a, b, d a, b, c, d 9. If your car lease is too high for your budget, but you can continue making payments if by reducing luxuries, how can you save money in the long run? (Points: 10) turn in the car early stop making payments report the car stolen complete the lease term and get a cheaper car 10. If every month you have to borrow against your credit cards, what is that called? (Points: 10) ?Living at your means? ?Living within your means? ?Living without your means? ?Living beyond your means?

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