“Fiscal Cliff” put in a much better perspective.
- U.S. Tax revenue: $2,170,000,000,000
- Federal 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: $142,700
- Total Budget Cuts so Far: $38.50
Got it?… Ok now,
Here’s another way to look at the Debt Ceiling:
Let’s say that you come home from work and find there has been a sewer backup in your neighborhood. Your home has sewage all the way up to your ceiling.
What do you think you should do?
Raise the ceilings or remove the shit?