It’s likely the Federal Government will increase its debt to over $16 trillion very soon. Probably like most Americans, I can’t fathom what a “trillion” equates to. Heck, I can barely imagine what it would be like to win the lottery and have a million dollars to spend. I think it would be fun, though.
I received an email this week that is probably making the rounds. Maybe you’ve seen it, maybe you haven’t. It helps put the Government spending at a level that we “little folks” can understand.
Here are the numbers in government speak:
- 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 (will soon go to $16 trillion)
- Recent Budget Cuts: $38,500,000,000
Here’s what WE understand:
- 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 (will soon go to over $160,000)
- Total Budget Cuts: $385
Now, what family is going to sit around their kitchen table and casually increase their credit card debt by another $18,000 as the politicians are doing?