Econ 101 - Government Style

Something I stumbled across recently. Don't know how accurate the numbers are ... but close enough to get the point across:

"This, rather brilliantly, cuts thru all the political doublespeak we get and puts our deficit spending and national debt into an easier to understand perspective.

*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
• Total budget cuts: $385

Simple isn't it?

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. 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 crap?"
- Raise the ceiling as much as you can.
- Install a temporary floor over that crap and pretend it's not there.
ha, ha!