Join Date: Mar 2007
Location: Fort Sask , Alberta, Canada
The Fiscal Cliff for Dummies
This puts things into 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: $ 385.00
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 neighbourhood, 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 crap?
My Kaw Barn - 2004 KLR, 2006 Concours (sold), 1997 Bayou 400.
"It's a friggen motorcycle, it's not supposed to be comfortable, quiet or safe. The wind noise is supposed to hurt your ears, the seat should be hard and riding it should make you shit your pants every now and then. "
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Last edited by klr4evr; 12-21-2012 at 03:18 PM.