Economics in Two Lessons

Loading...
Loading...

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:

 Here's another 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 ceilings.

 What do you think you should do?

 Raise the ceilings, or remove the crap?

Previously published by and special thanks to Casey Research.

Market News and Data brought to you by Benzinga APIs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...