Hat tip to Jack M for the email.
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:
* Annual family income: $21,700.00
* Money the family spent: $38,200.00
* New debt to the credit card: $16,500.00
* Credit card Balance: $142,710.00
* Total budget cuts so far: $385.00
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 ……
a): Raise the ceilings, or..
b) Remove the crap?