Economics Lessons

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:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Balance owing on the credit card: $142,710
* Total budget cuts so far: $3.85

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?

Author Unknown.

9 thoughts on “Economics Lessons

  1. No problem, just raise the limit on your credit card and keep enjoying yourself until you die. Then it’s someone else’s problem.
    As for the house, stop making the payments, file bankruptcy and start over fresh.

  2. I listene to WBAP Radio from Dallas-Ft. Worth. They reported Texas will have enough money to pay the budget plus add to the rainy day fund. The governor plans to adjust future spending to account just for population growth and inflation.

    The City of Irving is doing fine. They have a lady mayor. She told her citizens there will be no sacred cows. She said they will always ask when thinking about spending…..Is this something we want or is this something we need.

  3. We moved to Panama with a consideration that we would live better, it isn’t happening. Can’t use medical cards for insurance, prices are getting out of control, I cooked for 2 ALF’s in the US and the food here, is nuts. Tough, dry and crap. Toooo many problems. They think, if you are a “gringo” here, you have $$.. We don’t. Have made so many friends here (Panama people) and when talking to them, they are in the same predicament as us. I see Panama is catering to the rich and our friends and neighbors are getting into problems.

  4. Economic austerity will not lead to an economic recovery, trickle down economics have proven over and over again to be a failure, sometimes you do keep spending till the economy restarts, then address the budget issues. This is both what Clinton and Reagan did, Reagan a Republican raised taxes a dozen times during his presidency btw.

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