Saturday, 5 January 2013

The Average Joe’s Guide to the US Fiscal Cliff

The Fiscal Cliff Explanation for Non-Economist and Politicians

This puts things about Fiscal Cliff, the present economic situation and the size of United States Federal Government budget & debt into a much better perspective.....(I wonder about the rest of the world too!)

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

Got It ?????

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 ......

Raise the ceilings, or remove the shit?  (code for stop spending more than your income!)

This was from a joke a friend sent me the other day and as history demonstrates the best satire is always very close to the truth. 

Written by Join on Google+

No comments:

Post a Comment