Thought 75

Fiscal Cliff perspective:

     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

     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 shit?

Thought 75

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