Lesson #1:
* U.S. Tax revenue: $2,170,000,000,000
* Federal budget: $3,820,000,000,000
* New debt: $1,650,000,000,000
* National debt: $19,271,000,000,000
* 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: $192,710
* Total budget cuts so far: $385
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 pump out the sewage?
Your choice is coming in November 2022.
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