I received this via email today. An easy way to understand the national debt and spending beyond your means. You likely understand the concept already so send this to a politician.
Personally I look at the whole issue and can only laugh. In a sad way. Because when people say “MY” share of the national debt I just think, “as if I could ever pay that back”.
Lessons #1 and #2
If anyone is having trouble understanding your national debt , then these two lessons should bring you up to speed…
Why the U.S. was downgraded:
- 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:
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
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?
1. Raise the Ceilings, or
2. Pump out the sewage
Your Choice is coming November 2012
If you know who to credit this simple bit of genius please leave it in the comments.