Short Lesson on Spending

[Omaha Steve]

Need some help on this one.

Subject: A LESSON ON SPENDING
A simplification, I know, but it still holds………
---Short Lesson on Spending ...
Why the U.S. was downgraded:

• 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
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385

Got it? 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
•Pump out the crap

Your Choice is coming November 2012