"Fiscal Cliff" in Plain English .....

[RWBlue01]

“Fiscal Cliff” put in a much better perspective. Please use this to explain it to others.

Lesson # 1:

* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $16,305,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $163,050
* Total budget cuts so far: $38.50

Got It ?? ....... OK now: Lesson # 2: Here's another way to look at the Debt Ceiling:

Let's say, You come home from work and findthere has been a sewer backup in your neighborhood....and your home has sewage all the way up to your ceilings.

What do you think you should do ......

Raise the ceilings, or remove the crap?
That is all about debt ceiling and increase tax revenue.

[jdonovan]

* Recent budget cuts: $ 38,500,000,000
Let's now remove 8 zeros and pretend it's a household budget:
* Total budget cuts so far: $38.50

Code: Select all

38500000000
   12345678

Total budget cuts so far: $385

there I fixed it for you.

[Topsider]

Any way you slice it, we're screwed.

[ShotgunBlast]

Hey, that's ten times the budget cuts than we originally thought we had! That means we can spend more money!

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[Kreutz]

Hey, that's ten times the budget cuts than we originally thought we had! That means we can spend more money!

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Didn't know we had a Congressman here on VGOF!

[Riposite]

Hey, that's ten times the budget cuts than we originally thought we had! That means we can spend more money!

[ Post made via Mobile Device ]

Didn't know we had a Congressman here on VGOF!

but Shotgunblast is right, it means we have a budget surplus of $346.50 -it means the next president is responsible for all the debt and not our current genius one!

[VACoastie]

Riposite, the next President isn't responsible for anything and that's the frame of mind this current guy has. "It's my problem now, but not later, let's stick a band-aid to this stab wound and 'heal' it for now." That's how I see our current administration. Putting band aids on serious problems so the next guy REALLY has to fix it. Or, maybe he won't. Why don't we do the right thing and fix it right the first time? I sure as heck don't enjoy paying Mr. Contractor to fix my leaking roof, only to have it leak again 3 years down the road.

BTW Rip, I know what you're saying haha. I'm just throwing this bit out there.

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