� 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: $ 38,500,000,000Let'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: $385Got it?OK. Here's another way to look at the Debt Ceiling...Lesson # 2Let'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 sewage?Your Choice is coming November 2012 for all incumbents
Thursday, December 22, 2011
NOT ORIGINAL WITH ME BUT SENT BY COUSIN STU IN MEXICOLesson # 1
Why the U.S. credit rating was downgraded.