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September 22, 2011

The Federal Debt Mess - Tea Party Perspective. [ArthurK]

A lot of zeros in a trillion. Hard to comprehend. The Gainesville Tea Party simplified the debt issue by chopping 8 zeros off all the numbers - creating family sized dollar amounts.

Why S&P Downgraded the US:
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 [April] budget cut: $38,500,000,000

Let’s remove 8 zeros and pretend it’s a household budget:
Annual family income: $21,700
Money the family spent: $38,200
New debt (this year) on the credit card: $16,500
Outstanding balance on the credit card: $142,710
Budget cuts: $385

Looking at it this way, there are few serious politicians in DC working on the problem.

(Published out of draft by Ace).

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posted by Open Blogger at 03:27 PM

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