Consider the following math... U.S. income:  $2,170,000,000,000 New debt:  $1,650,000,000,000 Federal budget:  $3,820,000,000,000 National debt:  $14,271,000,000,000 Budget cut:  $2,100,000,000,000 (CBO estimated)/ Annualized over 10 years (210,000,000,000) It helps to think about these numbers in terms that we can relate to. Let’s remove eight zeros from these numbers and pretend this is the household budget for the fictitious Smith family: Total annual income for the Smith family:  $21,700 Amount of money the Smith family spent:  $38,200 Amount of new debt added to the credit card:  $16,500 Outstanding balance on the credit card:  $142,710 Amount cut from the budget:  $210 So in effect last month Congress, or in this example the Smith family, sat down at the kitchen table and agreed to cut $210 from its annual budget. What family would cut $210 of spending in order to solve $16,500 in deficit spending? see also   Finance,  Government  &  Politics   Sections   One At A Time Shofar So Good Temple Car Closing Time Wine Glass Lanyard Awning Truck Advertising Plugged In Org Chart - Simplified Version Extreme Value Instant Acrophobia How To Hire Engineers Business School Basics Waterwheel Rotisserie Elephant Bus Promote Yourself

26-Jun-2022