Federal Deficit Explained

Another bit of wisdom sent by one of my friends.

Lesson #1
 
Why the U.S. was downgraded:
 
• 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:

  $385
 
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

Your Choice is coming

  November 2012

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