I read this post by John McCormack this morning, until then things were going pretty good. When I read this it put our government spending into total perspective! Thank You John for the simple math!

Via John McCormack- Owner/Broker REALTOR, e-PRO (Albuquerque Homes Realty * www.AlbuquerqueHomes.com):

Here is a short course on Understanding The United States Debt (101)

 

I recently ran across an analogy of the US debt and finance plan in a way we all can relate. Let me share the following.

 

Currently the US tax payers generate roughly $2,170,000,000,000 (Thats Trillion)

 Our Federal budget is approx $3,820,000,000,000

 Our new debt is approx $1,650,000,000,000United State Debt 101

 National debt of $14,271,000,000,000

 Total budge cuts $38,500,000,000

 

 

 

Now let's remove some zeros and pretend this is a simple household budget.

Annual family income $21,700

Money family spends annualy $38,200

New credit card debt $16,500

Outstanding balance on credit card $142,710.00

Total budget cuts by family $385.00. Are you getting the picture ?

 

Here is another way to look at the debt ceiling. Let's say you come home from work one day and find there has been a major sewage backup and raw sewage is backed up all the way to the ceiling.  What should you do?

 

1.Raise the ceiling?

2.Pump out the sewage?

Pretty simple isn't it!

 

If you are considering the sale or purchase of an Albuquerque, Rio Rancho or New Mexico home It would be my pleasure and an honor to serve you.  Feel free to contact me, John McCormack via email, telephone or text so we can get better aquainted and discuss your paticular real estate goals.

 

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6 Comments on Understanding The Unites States Debt (101)

JAN
09
2012
479,463 Points 59 Featured Posts Outside Blog Called Shot Master

Hi Keith,

Simple, but yet so complicated when the elected officials get involved. The American family cannot operate like this. So why should the Governmeny be allowed to do so?

Thanks for the info.

Best, Clint McKie
8:12am • #1
3 Featured Posts Outside Blog

Makes a good point. Have you sent this blog to the President yet??
8:15am • #2
795,924 Points Outside Blog

This is a scary picture.

I thing our grand kids and their children will have to pay for it.
9:02am • #3
585,988 Points 46 Featured Posts Outside Blog Called Shot Master

Thank you for the re-post Keith.  I am humbly honored.
9:45am • #4
379,455 Points 84 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Keith - someone emailed me this and it puts it all in perspective! Very, very scary. Great reblog - in this format people are sure to get just how bad things really are!
10:45am • #5
JAN
10
2012
548,445 Points 3 Featured Posts Outside Blog

It seems so simple, Keith, why can't our elected representatives "get it"?
2:34pm • #6


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