Fiscall Cliff in simple terms; 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 : $16,962,600,000,000 Recent budget cuts : $38,500,000,000 Now lets 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 : $169,626 Total budget cuts so far : $ 38.50 Obama’s banker called because he and Michelle had racked up $16,962,600,000,000 TRILLION debt on extravagant vacations. Obama indignantly demanded the banker make good on all the payments, “Because you already authorized us to spend that money!” and demanded that the banker raise his credit limit. What should Obama’s banker do? a. Throw the Obama’s in debtor’s prison. b. Add another entitlement program that will encourage more profligate spending and raise Obama’s credit limit. c. Cut up his credit cards and NEGOTIATE a repayment plan. Heres another way to look at the Debt Ceiling : Lets 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? usdebtclock.org/
Posted on: Tue, 15 Oct 2013 18:00:31 +0000
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