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Friday, October 28, 2011

Understand US Debt Crisis Instantly

Understand US Debt Crisis Instantly

The Easiest Way Evah

By Dell Hill

Hat Tip - The Bookworm Room

Trying to figure out and understand this countries financial nightmare is NOT easy.  By now, most all of you are aware of the National Debt Clock, which is chockablocked with constantly changing numbers.  After a fashion, you get used to the changing numbers and it all really starts to make at least some sense.  I’ve been monitoring the debt clock for about three years and - combined with copious amounts of “business” reading - have a fair idea of just how much financial trouble we’re in.  

Just recently I happened upon a blog that featured a very simple way to explain our national debt problem.  The folks at the Bookworm Room reduced the entire schmere to easily understood math -- your household budget.

Note:  The numbers used are not up-to-date, but you’ll get the idea.

This helps to understand the US debt:

• 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 cut: $ 38,500,000,000

Let’s 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


You don’t have to be a rocket scientist to see that we’re in a whole heap of money trouble!

How much easier could it be made?

Why didn’t I think of this?

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