Consider a typical household or individual, who makes a relatively low income of $21,700 per year.
Now, what if that household racked up $16,500 on its credit card last year. We probably wouldn't consider that good money management. On top of that, consider that the household credit card is already at $143,000!! We'd really question the wisdom of the credit card company that expends credit like that. And finally, we learn that this household has only reduced its spending by a mere $385 -- hoping that will help solve the problem. WELCOME TO THE U.S. GOVERNMENT! By slashing the last 8 zeroes off of the current fiscal numbers in Washington, we get a fairly rough estimate of the extremely dire situation of a typical low-income family. US GOVERNMENT BUDGET Tax Revenue: $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 Cuts; $38,500,000,000 US FAMILY BUDGET (8 zeros removed from government budget) Annual Family Income: $21,700 Money the family spent: $38,200 New debt on credit card: $16,500 Outstanding balance on credit card: $142,710 Total budget cuts so far: $385
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