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DEBT CEILING ANALOGY - Maybe this helps with understanding.

Posted: Oct 11th, 2021 - 11:00 am

NOTE: MANY AMERICANS JUST DON’T FOLLOW OR UNDERSTAND THE FINANCIAL SIDE OF GOVERNMENT. HERE IS A SIMPLE WAY TO VIEW THE PROBLEM OF GOVERNMENT SPENDING. 

 

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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