Putting the Nation's Budget and Debt Ceiling into perspective
Here is a lesson on cutting through the financial doublespeak from our politicians and getting down to the nitty gritty of our financial crisis by substituting the obscenely large numbers into something more tangible and relevant. 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 If there is no hope for this family budget, then how can there be any hope for our nation's? We need new leadership in the White House. Obama had his chance for 2 years, with both the House and the Senate controlled by the Democrats, to get this economy rolling again and he failed. Cash for Clunker...