The Federal Budget Related To A Normal Family. Even Though The USA Has No Budget On Paper For OVER 800 Days.
Wed, 08.10.11 1:41pm EST
The USA Has NO BUDGET since OBAMA has Become President!!!
The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is so federal spending needs to be broken into simple terms to be understood.
Let’s put the 2011 federal budget into perspective:
Federal budget: $3,820,000,000,000
New debt: $ 1,650,000,000,000
National debt: $14,271,000,000,000
Recent budget cut: $ 38,500,000,000 (about 1 percent of the budget)
It helps to think about these numbers in terms that we can relate to. Therefore, let’s remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family.
Total annual income for the Jones family: $21,700
Amount of money the Jones family spent: $38,200
Amount of new debt added to their high-interest credit card: $16,500
Outstanding balance on the credit card: $142,710
Because the Jones’ realized they’re in trouble, they decided to become responsible and cut their spending. After a lot of posturing and wrangling, they agreed to cut a whopping $385 from their budget.