Budget Cuts for Dummies:
U.S. Tax revenue: $2,170,000,000,000 (Trillion) Fed Spending: $3,820,000,000,000 (Trillion) New debt: $1,650,000,000,000 (Trillion) National debt: $16,420,000,000,000 (Trillion) Recent budget cuts: $38,500,000,000 (as in Billion) Proposed sequester cuts: 85,000,000,000
Now, let's 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 Balance on the credit card: $164,200
Total budget cuts so far: ----$38.50 Proposed sequester cuts: --$85.00
Total cuts: $123.50 - from the $164,200 we owe.
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Budget Cuts for Dummies:
U.S. Tax revenue: $2,170,000,000,000 (Trillion)
Fed Spending: $3,820,000,000,000 (Trillion)
New debt: $1,650,000,000,000 (Trillion)
National debt: $16,420,000,000,000 (Trillion)
Recent budget cuts: $38,500,000,000 (as in Billion)
Proposed sequester cuts: 85,000,000,000
Now, let's 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 Balance on the credit card: $164,200
Total budget cuts so far: ----$38.50
Proposed sequester cuts: --$85.00
Total cuts: $123.50 - from the $164,200 we owe.