Here is what happens when you remove eight zeroes from the federal budgetary figures
This helps to understand the US debt:
• 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 cut: $ 38,500,000,000Let’s remove 8 zeros:
• 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
The ridiculousness of the current budget talks becomes quite apparent.
Found via The Bookworm Room. If you click over to there you’ll probably notice that I removed the similarly ridiculous notion of the federal government being like a household. While it makes it easier for the mind to grasp, households who print their own money generally get thrown in jail/foster care. Don’t get me wrong; I would have little difficulty with the counterfeiters at the Fed being tossed into the pokey. However, if you still need that scenario to bring you to the realization of the misguidance of federal monetary policy, then maybe politics isn’t your strong suit.