Economics in two lessons

25 Jan

Debt-Ceiling-Fight02-sizedA friend and reader sent this to us and it’s wonderful.

Economics in Two Lessons

Lesson # 1:

US Tax revenue: $2,170,000,000,000

Federal 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: $38.50

Got it ?

Lesson # 2:

A different 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 neighborhood and your home has sewage all the way up to your ceiling.

What do you think you should do?

Raise the ceilings, or remove the crap?

Wonderful.

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