Putting the US Budget into Perspective

Let’s see how the U.S. Budget stacks up to a household budget, shall we?

In order to compare apples to apples, we are using the numbers based on the same fiscal year – 2009, since that is the most current set of numbers available from the IRS. We will show you how the U.S. budget stacks up to recent proposed budget cuts.

[TaxMama Note: something like this has been circulating on the Internet for some time. I’ve just verified and updated the numbers – and given you links to the sources I used. Even humor should be based on truth.]

  1. U.S. Tax revenue (FY2009):     $2,330,000,000,000  
  2. Federal  budget:      $3,107,000,000,000 
  3. New debt:                 $ 777,000,000,000  (difference between line 1 and line 2)
  4. National debt 2009:       $11,910,000,000,000 
  5. • Recent budget cut (current year):   $38,000,000,000  

 

Now, remove 9 zeros and pretend it’s a household budget.

  1. Annual family income:                $23,300
  2. Money the family spent:              $31,070
  3. New debt on the credit card:       $7,770 (difference between line 1 and line 2)
  4. Outstanding balance on credit card:  $119,100
  5. Your  Total proposed budget cuts:                                    $3,800

Sorta brings the issue “home” doesn’t it?

Incidentally, this budget perspective is often sent around the Internet in relation to this appeal to reform Congress – and the benefits and compensation received by our legislators. While it may be all in fun, I do think it’s a great idea, don’t you?

Courtesy of  Jim Rickards, real estate agent in Paradise, CA

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