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VOL STRIT UNIŠTAVA SAD

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US Federal Budget

 

 

The U.S. Congress sets a federal budget every year in the trillions of dollars. Few people know how much money that is. Below is a breakdown of federal spending in simple terms.

Put the 2011 federal budget into perspective:

U.S. income : $ 2,170,000,000,000

 Federal budget : $ 3,820,000,000,000

New debt : $ 1,650,000,000,000

 National debt : $14,271,000,000,000

 Recent budget cut : $ 38,500,000,000 (about 1% of the budget)

 It helps to think about these numbers in terms that we can relate to.

 Remove eight zeros from these numbers and assume this is a fictitious household budget;

 Total annual income for the family : $ 21,700

 Amount of money the family spent : $ 38,200

 Amount of new debt added to the credit card : $ 16,500

 Outstanding balance on the credit card : $142,710

 Amount cut from the budget : $ 385

 So in effect last month Congress, or in this example the family, sat down at the kitchen table and agreed to cut $385 from its annual budget.

 What family would cut $385 of spending in order to solve $16,500 in deficit spending?

 It is a start, although hardly a solution.

 Now after years of this, the family has $142,710 of debt on its credit card (which IS the equivalent of the national debt).

 You would think the family would recognize and address this situation, but it does not – Neither does Congress!!!!!!

 

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