U.S. Fiscal Cliff Explained

February 4, 2013

This puts things into a much better perspective as to the present economic situation..

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:                                 $ 21,700.00
* Money the family spent:                              $ 38,200.00
* New debt on the credit card:                       $ 16,500.00
* Outstanding balance on the credit card:     $ 142,710.00
* Total budget cuts so far:                             $          38.50

Got It ?????

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