Fiscal Cliff.....The simple version!!

[inkdaddy]

“;Fiscal Cliff” put in a much better perspective.”;

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 shiit?

 

[sinac84]

Yep! Well put!

 

[Exile]

You may want to add a line that shows the TOTAL income of the top 2%. Maybe some would see that even at a 100% tax rate we wouldn't even dent that deficit number. I just don't see how some people can't do the basic math and realize we can't "refill" a swimming pool with an eye dropper.

 

[GC Josh]

I liked the sewage analogy, good stuff!

 

[roundhouse]

The feds didnt want the automatic cuts to kick in, cause its waay more cuts than they will EVER make on their own,

if you're not getting ready for a financial collapse and all that comes with it, like another great depression and world war, you better get moving! cause its inevitable.