I like to think of it as a morbidly obese person getting a haircut.
I know this way of showing what kind of % cuts we’re talking about has been used but I think it’s worth presenting again.
I’ve been saying for years that most people don’t understand what a trillion dollars is and what our actual financial condition is as it relates to the debt and projected budget cuts or fiscal cliff.
What I’ve done is removed all those nasty 0s, eight in all and put the situation in terms that the average person can relate to.
The following is what we’re up against. Imagine if this was your family budget, doesn’t make much sense does it?
Money earned (tax revenues) $21,700
Money spent (Federal Budget) $38,200
Money borrowed this year to make ends meet $16,500
Money owed on credit cards (Federal Debt) $164,710
Money agreed to be saved to pay back debt $38.50