Important Simplified Financial Lessons
Lesson # 1:
Why the U.S. was downgraded:
• 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 |
Got it?
We have choices coming November 2012 for ALL politicians!
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