2011 Federal Budget Deal

Great Example!!

Federal Budget: $3,820,000,000,000 (3.82 Trillion)
Income: $2,170,000,000,000 (2.17 Trillion)
New Debt: $1,650,000,000,000 (1.65 Trillion)
Amount Cut: $38,500,000,000 (38.5 Billion) – about 1% of the total budget.

Harry Reid is calling this a “historic amount“. The President said it is a “historic deal”. John Boehner simply said, “We’ve come to an agreement”.

Let’s Put This In Perspective. It helps me to think about these numbers in terms that I can relate to.

Let’s remove nine zeroes from those numbers and pretend this is a monthly household budget for the fictitious Jones family.

Amount of money the “Jones`s” family spent this month: $3,820

Total income for the “Jones`s” family this month: $2,170

Amount of new debt added to the credit card this month: $1,650

Outstanding balance on the credit card: $14,271 (This represents our national debt).

So last week, the “Jones’s” sat down at the kitchen table and agreed to cut $38 from their monthly budget. A historic amount!

ARE YOU Impressed?

Me neither!!!!