A Facebook friend of mine, Steve, recently posted this information, which reduces the enormously large U.S. national debt numbers to smaller, easier-to-comprehend facts that most anyone can comprehend…me included.
* 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: $385
Is political cowardice too strong a term to describe Washington’s perpetual failure to head-off our oncoming fiscal disaster? You’ll have a tough time convincing me otherwise.
Meanwhile…in D.C., our so-called political leadership continues to trim the shrubbery while the house is burning down.