Thursday, July 19, 2012

If the U.S. government were a household

Ever wonder what the Federal budget would look like if it were a single family household?  A little bit of math, along with a pinch of common sense shows that not only is our government fiscally irresponsible, but no financial entity on the planet would consider them a valuable credit risk to continue to pour money on.

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
* 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: $38.50

Even the proverbial drunken sailor would have been thrown out of the bar long before his tab was allowed to get this bad.


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