Thursday, January 12, 2012

Important Simplified Financial Lessons

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!