Saturday, December 29, 2012

Fiscal Cliff Explained so Everyone can understand

Someone posted this on my fb page crediting “The Angel Clark Show”. I am a centrist, so I did not agree with everything on that page, but the message here is still thought provoking.


“Fiscal Cliff” put in a much better perspective.

Lesson #1

US Tax revenue $2,170,000,000,000
Fed Budget $3,820,000,000,000
New debt $1,650,000,000,000
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

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 ceiling. What do you think you should do?

Raise the ceiling or remove the shit?


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