Aug 7 2012
debt
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50
Got It ?????
OK now Lesson # 2: Here’s another way to look at the Debt Ceiling:
Let’s say, You come home from work and find there has been a sewer backup in your neighborhood….and your home has sewage all the way up to your ceilings.
What do you think you should do ……
Raise the ceilings, or pump out the sewage?
Aug 16, 2012 @ 12:20:28
That’s right. It’s nothing like a household budget, dude. Households can’t borrow from the Chinese. That’s one for Dougy Boy.
Aug 14, 2012 @ 21:30:55
That is an amazingly simple minded way to look at the Federal budget. It’s nothing like a household budget dude, nothing like it at all. Did you ever take an economics class in high school?