“Fiscal Cliff” put in a much better perspective.   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: $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: 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: $142,700 Total Budget Cuts so Far: $38.50 Got it?… Ok now, Lesson #2 Here’s another way to look at the Debt Ceiling: Let’s say that you come home from work and find there has been a sewer backup in … Continue reading “Fiscal Cliff” put in a much better perspective.