The US Federal Budget boiled down to a household level

imageI received a document in my email the other day that put into picture the situation America has with its debt & the problem with the recently confirmed budget cuts.  The full document is available for download here, originally from a law firm called Hailey, McNamara, Hall, Larmann & Papale, L.L.P.:

The document very succinctly put into 5 brief lines America’s budget/debt issue by simply removing EIGHT ‘zeroes’ from the end of each line and putting the US income/debt into numbers people can wrap their heads around by imagining a fictitious family named “Jones”:

  • Total annual income for the Jones family: $21,700
  • Amount of money the Jones family spent:  $38,200
  • Amount of new debt added to the credit card:  $16,500
  • Outstanding balance on the credit card:  $142,710
  • Amount cut from the budget:  $385

Now obviously the actual negotiated change is more complicated than that, but to be honest, that’s really what the outcome is at this point in time.  We cut <1% of the budget.

Wow.

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