The Federal Budget For Dummies

Turning our economy around and getting people back to work has two components -- One is promoting economic growth (through tax cuts and a more sane regulatory structure) and the other is slashing government spending to get our budget and debt (including at the state level) under control.  It's the second piece that I'm writing about today. 

Below is the best, most simplified explanation of what's wrong with our governmental budget that I've seen (many thanks to the anonymous person who first drafted it and started it along the proverbial email chain)--

• United States 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 cut:                  $38,500,000,000

Now, remove 8 zeros and pretend it's a household buget--

• 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 which some politicians are proud about:  $385

Any more questions?

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