leaverage

Tuesday

National Debt Explained

This article was sent to me and I needed to re-post, sorry there no source info and I would love to give credit where credit is due. (Possible author Cliff Toye) Just no more credit for the government.

 This rather brilliantly cuts thru all the political doublespeak we get. It puts it into a much better 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:       $16,271,000,000,000
* 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:                                             $385

Got It ?????

OK now 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 pump out the crap?

Your choice is coming Nov. 6, 2012

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"Imagination is more important than knowledge. For knowledge is limited to all we now know and understand, while imagination embraces the entire world, and all there ever will be to know and understand."
Albert Einstein