Economics in Two Lessons
* 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 ?????
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 ceilings.
What do you think you should do?
Raise the ceilings, or remove the crap?
Previously published by and special thanks to Casey Research.