Over the weekend I received an email that really puts the recent Federal Budget deal into perspective and drives the depth of the problem right into American homes. I cannot verify all of these numbers, but you will get the picture:
"2011 Federal Budget Deal"
Federal Budget: $ 3,820,000,000,000 (3.82 Trillion)
Income: $ 2,170,000,000,000 (2.17 Trillion)
New Debt: $ 1,650,000,000,000 (1.65 Trillion)
Amount Cut: $ 38,500,000,000 (38.5 Billion) – about 1% of the total budget.
National Debt Total: $ 14,271,000,000,000 before this year’s budget.
Harry Reid is calling this a “historic amount." The President said it is a “historic deal.” John Boehner simply said, “We’ve come to an agreement.”
Let’s Put This In Perspective. It helps me to think about these numbers in terms that we can relate to.
Let’s remove eight zeroes from those numbers and pretend this is a household budget for the fictitious Jones family.
Amount of money the “Jones’s family spent this Year: $ 38,200
Total income for the “Jones’s family this Year: $ 21,700
Amount of new debt added to the credit card this Year: $ 16,500
Outstanding balance on the credit card: $142,710
New outstanding balance on credit card: $159,210
So last week, the “Jones’s” sat down at the kitchen table and agreed to cut $385 from their yearly budget. "A historic amount!”
How can our government question why Standard & Poor’s downgraded our debt? Need I say more?