Fiscal Cliff in terms easier to understand

[rico1]

“Fiscal Cliff” put in a much better perspective.

Lesson #1:

* 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 now remove 8 zeros and pretend it's a household budget using the same numbers:

* 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 so far: $38.50

Easier to understand ??.......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 remove the crap?

[fib1618]

“Fiscal Cliff” put in a much better perspective.

Lesson #1:

* 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 now remove 8 zeros and pretend it's a household budget using the same numbers:

* 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 so far: $38.50

Easier to understand ??.......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 remove the crap?

[dontlop]

good one rico ..

i think this whole thing is designed to come in stages ..

the united states is going to be doing some restructuring ..

if they did everytihng all at once the whole country would be in an uproar at the same time ..

so in this stage it effects the top earners .. not a very large group . not many people stood by them .. so when the govt... next stage kicks in .. they shouldnt be expectiing any backing from the rich .. those who are able to fight in court over issues ..the working class cannot afford any drawn out court cases with the govt ..

so the majority tossed away one of their private sector allies ..

the next phase will be spending cuts ..most likey they will hit the weakest sector first .. get them out of the way . then move on to entitlements .

those old goats will not be driving to washington and having any routy protests ..

one segment at a time is the plan .. if they cut everyone at once and raised taxes all at once .. kaos would be too overwhelming .....too many prople protesting at the same time ....

i think over the next couple years we should have over 20 trillion in debt to pay ..all they need to do is add three zeros .. and pay them off with funny money

[rico1]

good one rico ..

i think this whole thing is designed to come in stages ..

the united states is going to be doing some restructuring ..

if they did everytihng all at once the whole country would be in an uproar at the same time ..

so in this stage it effects the top earners .. not a very large group . not many people stood by them .. so when the govt... next stage kicks in .. they shouldnt be expectiing any backing from the rich .. those who are able to fight in court over issues ..the working class cannot afford any drawn out court cases with the govt ..

so the majority tossed away one of their private sector allies ..

the next phase will be spending cuts ..most likey they will hit the weakest sector first .. get them out of the way . then move on to entitlements .

those old goats will not be driving to washington and having any routy protests ..

one segment at a time is the plan .. if they cut everyone at once and raised taxes all at once .. kaos would be too overwhelming .....too many prople protesting at the same time ....

i think over the next couple years we should have over 20 trillion in debt to pay ..all they need to do is add three zeros .. and pay them off with funny money

Divide and concur, I like your thinking and I wouldn't be surprised if that is what they do.