This may be the best explanation of our fiscal problems yet as outline on Americanthinker.com.
A SnyderTalk reader sent me an email which contained the information below. It’s a simple way to think about the U.S. debt and deficit problems. The numbers are several months old so the problems we face are actually worse than the numbers suggest, but they’re close enough to get the message across to thinking people:
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: $14,271,000,000,000
Recent budget cuts: $ 38,500,000,000
Let’s remove 8 zeros and pretend the numbers reflect 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: $142,710
Total budget cuts: $385
It’s hard to defend more stimulus money now, isn’t it?