What If The National Debt Were Your Household Budget?
By Rita Arens on September 27, 2011
BlogHer Original Post
I admit to glazing over whenever someone talks to me in numbers greater than hundreds of thousands. I can't even really handle millions. I also admit to glazing over whenever someone wearing tea bags on his or her head demands we cut taxes after having driven to the rally on roads paid for by the government using, um, tax dollars.
However. My politics aside. Gainsville Tea Party, thank you for breaking down the national debt into a "household budget."
Here's what they said our national debt would look like if it were YOURS.
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: $142,710
Total budget cuts: $385
According to the breakdown making its way around the Internet, the U.S. national debt is akin to spending twice what we make with almost $150k in outstanding credit card debt. That does indeedy sound like a losing proposition to me. It also sort of sounds like maybe the U.S. government needs more income.
Maybe it's time to raise taxes. *ducks*
But at least this breakdown finally makes sense to me. Now I finally do get what the problem is. I know there is debt, but what kind? How much revenue does the U.S. have? THIS HELPS.
Do you like this breakdown? Regardless of how you feel about the national debt, do these numbers make sense to you?
BlogHer is nonpartisan. I am not.