Economics in Two Lessons
Lesson # 1:
US 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: $142,710
* Total budget cuts so far: $38.50
Got it ?????
* 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.
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