“Fiscal Cliff” put in a much better perspective

“Fiscal Cliff” put in a much better perspective

Lesson #1

1. U.S. Tax revenue:          $2,170,000,000,000
2. Fed Budget:                $3,820,000,000,000
3. New debt:                  $1,650,000,000,000
4. National debt:            $14,271,000,000,000
5. Recent budget cuts:           $38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget.

1. Annual family income:               $21,700.00
2. Money the family spent:             $38,500.00
3. New debt on credit card:            $16,500.00
4. Outstanding credit balance         $147,710.00
5. Total budget cut so far:                $38.50

Got it???……Ok now,

Lesson #2

Here’s another way to look at the Debit Ceiling:

Let’s say, as an example, you come home from work and find there has been a sewer backup in your neighborhood….and your home has sewage all the way to your ceiling. What do you think you should do?  Raise the ceiling, or remove the shit??

 

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