Thursday, February 2, 2012
US Debt Brillantly Explained 4U
-----This rather brilliantly cuts thru all the political doublespeak we get. It puts it into a much better
perspective and is the same for many countries in Europe ...
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 crap?
Your choice is coming Nov. 2
Tuesday, January 31, 2012
Monday, January 30, 2012
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