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Fiscal Cliff Put Into Perspective of a Household Income

December 27, 2012

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 using the
Same numbers:
* 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: $385.00
Easier to understand ??…….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 remove the sewage?

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6 Comments
  1. Ann permalink

    budget cut in household error- it’s a whopping $358.00 ( decimal point moved 8 “0”‘s

    • John Simonds permalink

      fixed it

  2. Mary Wilson permalink

    $385, not $358… It’s really too bad that photo going around shows the $38.50.

    • John Simonds permalink

      I fixed it, thanks for the catch

Trackbacks & Pingbacks

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