Thursday, June 2, 2011

GOP Fiscal Realism

New Jersey Gov. Chris Christie (R) has proposed cutting Medicaid eligibility from the current maximum income of $24,645 to $5,317 a year for a family of three.

Let's try a little family budget reality check. A typical family budget looks like this:

Housing 36%
Food 13%
Auto 12%
Insurance 5%
Debts 5%
Entertainment 6%
Clothing 5%
Savings 5%
Medical/Dental 4%
Miscellaneous 5%
School/Child Care 6%
Investments 5%

Well, we sure don't want poor folks getting any entertainment, and I think we infer that their savings and investment accounts are on hiatus. And Misc? They sure don't deserve any "miscellaneous."

So here's their Monthly Budget

Annual Monthly
$5,317 $443.08
Housing 36% $159.51/month
Yep, there are a lot of $160 apartments available in NJ. Might be tough for this family to scratch together the security deposit, though
Food 13% $57.60/month
2 dollars a day for 3 folks.
Auto 12% $53.17/month
There's a lot of gas for you, not to mention payments, insurance, maintenance, etc. Let's see: at $3.75/gallon, they can burn through 14 gallons a month, Assuming their junker gets 15 mpg, they get to joy ride for about 7 miles a day.
Insurance 5% $22.15/month
Clothing 5% $22.15/month
$7.38 a person. I'm thinking a pack of whitey tighties per person per month at Walmart
School/Child care 6% $26.59/month
Medical/Dental 4% $17.72/month $5.90 per person a month. There's a lot of health care for you.

And the Republicans want us to think that they know what they're talking about when it comes to finances and fiscal reality?

1 comment:

  1. Congratulations! You've aptly demonstrated why a family of three making $5,317 a year should receive Medicaid. I certainly understand why Christie thinks the same.

    24,645 annually comes to $2,053.75 per month. Using the above percentages:

    Housing 739.35
    Food 266.99
    Auto 246.45
    Insurance 102.68
    Debt 102.68
    Entertainment 123.23
    Clothing 102.68
    Savings 102.68
    Medical/Dental 82.14
    Miscellaneous 102.68
    School/Child Care 123.23
    Investments 102.68

    Let's face it, that family is living the high life! :)

    Of course, the percentages add up to 107.