Leatherneck Blogger

“Fiscal Cliff” in Plain English

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Lesson #1:

*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 remove the sewage?

Written by Leatherneck Blogger

February 19, 2013 at 06:00

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