Fiscal Cliff in Plain English

“Fiscal Cliff” put in a much better perspective.

Lesson # 1:

* 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: $16,305,000,000,000
* 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: $163,050

* Total budget cuts so far: $38.50

Got It ?? ....... OK now:

 

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?

 

This is all about debt ceiling and increase tax revenue. 

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commented 2013-12-21 15:59:55 -0800 · Flag
Thank you
Chris Kolski posted about Fiscal Cliff in Plain English on Chris Kolski's Facebook page 2013-01-02 20:08:34 -0800
Fiscal Cliff in Plain English
@VoteKolski tweeted this page. 2013-01-02 20:08:34 -0800