US Fiscal Cliff Explained

Posted 2013/01/02 9:27 am by with 0 comments

Lesson #1

US Tax Revenue: $2,170,000,000,000
Fed Budget: $3,820,000,000,000
New Debt: $1,650,000,000,000
Recent Budget Cuts$ 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 Card. $142,710
Total budget cuts so far: $38.50

Got it?????
OK now.

Lesson #2:

Here is another way to look at the Debt Ceiling:

Let’s say, You come home from work and find there
Has been a sewer back 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 remove the CRAP???

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