Every election competing political parties promote "policies" which is doublespeak these days for spending money they do not have and raising debt which future taxpayers will have to pay unless the country opts for the Greek solution i.e. bankruptcy. When national budgets are discussed figures of billions and trillions of dollars are bandied about and it is difficult for the average person to get a handle on it. Ross Greenwood has analysed the US financial position and scaled it down to a household budget for better understanding.
* 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 ?????