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.]
- U.S. Tax revenue (FY2009): $2,330,000,000,000
- Federal budget: $3,107,000,000,000
- New debt: $ 777,000,000,000 (difference between line 1 and line 2)
- National debt 2009: $11,910,000,000,000
- • Recent budget cut (current year): $38,000,000,000
Now, remove 9 zeros and pretend it’s a household budget.
- Annual family income: $23,300
- Money the family spent: $31,070
- New debt on the credit card: $7,770 (difference between line 1 and line 2)
- Outstanding balance on credit card: $119,100
- 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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