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