Wednesday, January 04, 2012
The U.S. budget explained as a Household budget:
U.S. Tax Revenue $ 2,170,000,000,000
Federal Budget $ 3,820,000,000,000
New Debt $ 1,650,000,000,000
Existing National Debt $ 14,271,000,000,000
Interest Payments on Debt for 2011 $454,393,280,417
Recent Budget Cut $ 38,500,000,000
Now, remove 8 zeros and pretend it's a house hold budget:
Annual Family Income $ 21,700
Money the family spent $ 38,200
New debt on credit card $ 16,500
Outstanding balance on credit card $ 142,710
Minimum Payment $4,543
Total budget cuts which some politicians are proud of $ 385
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