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?