10-Jan-2013 10:13

US 'Fiscal Cliff' & 'Debt Ceiling' Explanation...

Allow us to explain 'Fiscal Cliff' by showing a preferred perspective.

Lesson #1:

* 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 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: $385

Are you beginning to understand?
____________

Lesson #2:

Here's another way to look at the 'Debt Ceiling':

Let's say, you return home from work and find that 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 sh*t?


Hope that proves our point!