Congressional Soap Opera . . . to be continued

“No man’s life, liberty, or property is safe, while Congress is in session.”
~ Mark Twain

“Praising Congress for the fiscal cliff deal is like giving an arsonist an award for putting out his own fire.”
~ Andy Borowitz … Borowitz Report

“I know what I pray for . . .
The strength to change what I can,
the inability to accept what I can’t,
. . and the incapacity to tell the difference.”

~ Bill Watterson…Calvin & Hobbes

Fiscal Cliff Simplified

 Lesson # 1:
* U.S. Tax revenue: $2,170,000,000,000
* Fed spending: $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

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: $142,710
* Total budget cuts so far: $38.50

Got It ??

OK now,

 Lesson # 2:

Here’s another way to look at the Debt Ceiling:

Imagine you come home from work and find
there has been a sewer backup in your neighborhood,
and your home has sewage piled up to the ceiling.

U.S. debt from 1940 to 2010. Red lines indicat...

U.S. debt from 1940 to 2010. Red lines indicate the Debt Held by the Public (net public debt) and black lines indicate the Total Public Debt Outstanding (gross public debt), the difference being that the gross debt includes that held by the federal government itself. The second panel shows the two debt figures as a percentage of U.S. GDP (dollar value of U.S. economic production for that year). The top panel is deflated so every year is in 2010 dollars. (Photo credit: Wikipedia)

What do you think you should do . . ?

Raise the ceiling?

or

Remove the crap?

Advertisements